Saint-Gobain enters agreement to acquire Chryso

24 May 2021 CW Team

Saint-Gobain, a global player in the construction chemicals market, has entered an agreement to acquire Chryso from funds that are advised by Cinven, an international private equity firm.

Chryso gives comprehensive additives solutions for sustainable construction by relying on knowledge of construction materials, formulation expertise, and innovative chemistry.

The company has generated above Euro 400 million over the last year's revenues and an EBITDA of Euro 85 million, and it employs about 1,300 employees.

The acquisition of Chryso perfectly fits with Saint-Gobain's strategic vision of worldwide leadership for sustainable construction. It will expand the Group's presence with combined sales of more than Euro 3 billion across 66 countries within the growing construction chemicals market.

Saint-Gobain will entirely finance the acquisition using the proceeds from divestments made by the Group. The enterprise value of Euro 1,020 million represents 12 times multiple of Chryso's last year's EBITDA of Euro 85 million and 7.6 times post-run-rate synergies of Euro 50 million in year five.

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