Scotto Partners advised Calucem’s management team in the context of the sale of the group to Cementos Molins
Owned since 2016 by Private Equity fund Ambienta SGR SpA, the market leader in Calcium Aluminate Cements (CAC) Calucem Group has undergone a change in ownership. Cementos Molins, a global manufacturer of products and sustainable solutions for the construction sector, has agreed to acquire 100% of the shares of the company from the exiting majority shareholder.
With this important milestone for Calucem, Cementos Molins will enhance its offering of innovative and sustainable solutions for the construction sector and become the world's second largest player of calcium aluminate cements (CAC).
Calucem is a producer of Calcium Aluminate Cements (“CAC”), a family of specialty binding materials which are essential ingredients in the success of high-performance products for building chemistry and other industries. Founded in 1925, Calucem is a brand name in the industry and the #2 producer of CAC worldwide, serving global end-customers in more than 60 countries. The company has its management HQ and R&D centre in Mannheim (Germany) with a production facility in Pula (Croatia) and sales companies in the US, Germany and Singapore, and it is vertically integrated with a bauxite quarry in Turkey. Calucem has an impressive track-record of bringing to market innovative CAC-based solutions for the construction sector, with special applications in high value-added products, such as self-levelling mortars, additives and adhesives, pipes, or refractory material.
Yuri Bouwhuis, CEO of Calucem: “I would like to express my sincere gratitude to all colleagues in Calucem. Over the last years the company has shown tremendous growth, whilst adding new products and always focusing on more sustainable solutions for all stakeholders. We are excited to continue this development as part of Cementos Molins, sharing their values, and together creating more value for our customers.”
The closing for the transaction, valued at €150 million, is targeted for the last quarter of 2021, and is subject obtaining the approval from the competition authorities in a few countries. Meanwhile, both companies will continue to operate independently until the acquisition is completed.
With this merger, the new Group will strengthen its market position in France and internationally in the large company, mid-cap and SME market segments, in employee benefits, international mobility, property and liability insurance, marine and transport insurance, credit insurance and reinsurance.
Scotto Partners advised the management team of Calucem in the context of the exit with a team led by Isabelle Cheradame (partner) and Jérôme Commerçon (partner) assisted by Julien Pardieu and Loïc Pipaud for the tax-related aspects.
Other legal advice:
Grimaldi Lex and Shoosmiths advised Ambienta SGR SpA. Cementos Molins was advised by Cuatrecasas.