TAGS: Sealants
Saint-Gobain, through its Chryso business, has completed the acquisition of Matchem in Brazil and entered into exclusive negotiations to acquire IDP Chemicals in Egypt.
Support Decarbonization Efforts in Construction Industry
The acquisitions of Matchem and IDP Chemicals will allow Saint-Gobain to strengthen its position in construction chemicals, in particular concrete admixtures which play a key role in the decarbonization of the construction industry. These two companies are focused on the buoyant building and infrastructure markets in Brazil and Egypt, which should see strong growth for the years to come.
Matchem, established in 2011, employs around 50 people across two plants in Brazil and generated revenues of close to €20 million in 2022. Together with Quartzolit, manufacturer of mortars (tile fixings, wall and floor coatings, waterproofing membranes), TekBond, sealant and adhesive specialist, and the recently acquired GCP Applied Technologies, Matchem will reinforce Saint-Gobain’s platform in construction chemicals, a leader on the Brazilian market with 24 industrial sites.
Accelerate Inorganic Growth Strategy
IDP Chemicals, licensed by Chryso since 2018, employs 25 people at one plant and is well positioned to serve the dynamic construction market in Egypt. This acquisition should be finalized in the first quarter of 2023.
Chryso benefits from Saint-Gobain’s strong presence in Brazil and Egypt to accelerate its inorganic growth strategy. Matchem and IDP Chemicals will be consolidated within the Construction Chemicals segment in High Performance Solutions.
The acquisitions of Matchem and IDP Chemicals are in line with Saint-Gobain’s “Grow & Impact” strategy aiming to both strengthen the Group’s leadership and accelerate its growth by enriching its range of solutions for light and sustainable construction.
Source: Saint-Gobain