Acquisition of Lafarge Roofing by PAI partners

• 
• 1st April 2007
• Materials Handling
 

PAI partners and Lafarge announce that they completed yesterday the sale of Lafarge Roofing to PAI partners, for an enterprise value of €2.4 billion. Lafarge has reinvested alongside PAI partners a 35% stake in the new entity.

Lafarge Roofing manufactures and sells a comprehensive range of concrete and clay tiles for pitched roofs, roofing components and chimney systems, for new build and renovation purposes in both the residential and non residential markets. The company is the world number one in its sector, with expected net sales and proforma EBITDA of €1.6 billion and €268 million respectively for FY 2006.

Lafarge Roofing operates 210 production plants in 41 countries. Of these, 120 make concrete tiles, 52 make clay tiles, 23 make chimney systems, 6 make Roofing Systems Components and 9 make miscellaneous other products. Lafarge Roofing employs 12,000 people.

Bertrand Meunier, Senior Partner at PAI said: "Lafarge Roofing is a highly attractive business. With its diversified product portfolio, large geographical presence, and strong market share everywhere it operates, Lafarge Roofing has excellent prospects notably through a number of sales initiatives and through further consolidation of its markets. This investment is a good example of PAI's strategy to invest in market leaders. The strong expertise PAI has developed in the building materials sector through a number of prior investments was key in quickly understanding the business and assessing its development opportunities."

Bruno Lafont, CEO of Lafarge stated: "The 35% stake that we have decided to take in the capital of the new entity demonstrates that we want to take part in its future success by maintaining a link with this activity. We are very pleased to be shareholders alongside PAI, who offered the best solution for this activity and its employees. "

Contacts:

PAI partners

Sandrine Gallien, Hudson Sandler
Tel: +44 20 7796 4133