On 24 March, international private equity firm, Cinven, entered into exclusive negotiations to acquire CHRYSO from LBO France. The acquisition was completed on 28 June 2017, making it the fourth investment from The Sixth Cinven Fund.
Thierry Bernard, President and CEO of the CHRYSO Group, comments: “Over the past three years, our Group has conducted significant transformations and reinforced its presence in emerging economies, by acquiring local businesses with strong potential, and creating some new subsidiaries:
- Sri Lanka - November 2014: acquisition of Concrete Solutions Technologies, now CHRYSO Lanka Pvt Ltd.
- Algeria - November 2014: creation of CHRYSO Hydipco.
- Kenya - May 2015: creation of CHRYSO Eastern Africa.
- Sweden - July 2015: acquisition of Betongkemi AB, now CHRYSO Nordic AB.
- Qatar - December 2015: acquisition of Corrotech Qatar, now CHRYSO Gulf.
- The Philippines - April 2016: acquisition of Philprime Global Corporation.
- And eventually the simultaneous acquisition in France of MODERNE MÉTHODE and BÉTON
ACADEMY, in November 2016, which has allowed the creation of a unique offering for
decorative concrete. It comprises a certified training centre on the techniques of application,
as well as a large and effective range for the New Construction and Restoration markets.”
CHRYSO has also upgraded and completed its industrial footprint, with new facilities built in the UK and Algeria, and a third plant constructed in Adana, Turkey. The Group has maintained its focus on innovation, with new leading technologies, such as concrete superplasticiser CHRYSO®Optima 1000, and the cement activator CHRYSO®AMA EL 100 series, being recently launched.
“Thanks to its enlarged geographic imprint and its portfolio of leading technologies, CHRYSO has participated to some exceptional realisations and prestigious jobsites across the globe: the new seaside road on the Reunion island, Sultan Yavuz Selim Bridge in Istanbul, the Greater Paris project, and many others,” Thierry Bernard concludes. “We look forward to continuing the development of our ambitious strategy to become a global leader with the support of Cinven.”
Read the article online at: https://www.worldcement.com/europe-cis/30062017/cinven-completes-acquisition-of-chryso/