KERNEOS
Acquired by
ASTORG
KERNEOS acquired by ASTORG
Target
KERNEOS
Acquirer
ASTORG
Context
Astorg has finalized an agreement to acquire the Kerneos from Materis (Wendel), a maneuver designed to fundamentally transition the business from a subsidiary of a diversified construction conglomerate into a standalone global platform. The strategic rationale for this transaction centers on a "portfolio-emancipation" play, merging the target's industry-leading technical operational depth in calcium aluminates with the sponsor's established expertise in professionalizing mid-cap industrial champions. This structural alignment provides the organization with the institutional capital and strategic autonomy required to pursue an independent growth roadmap after years of serving as a cash-generating division for a leveraged parent.
KERNEOS, which reported an EBITDA margin of LOGIN in 2013, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.6x average currently observed in the Industry & Manufacturing sector.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in Industry & Manufacturing market trends
Target
Kerneos is a France company specialized in High-Performance Mineral Binders. The company has carved out a distinct space in the industrial landscape by focusing on the synthesis of calcium aluminates, which are essential for applications requiring rapid hardening and extreme chemical resistance. Instead of producing standard construction materials, they thrive on a philosophy of technical operational depth, providing specialized ingredients that allow mortars and adhesives to withstand harsh environments or set in record time. What makes them a go-to partner for global construction and refractory firms is their ability to deliver consistent mineral performance across an international network of production sites.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples Analysis
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Other operations with KERNEOS
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 12/2016 | IMERYS | KERNEOS | FRANCE | Construction Materials | Imerys has finalized an agreement to acquire Kerneos from Astorg, a maneuver designed to fundamentally expand its specialized materials offering for the building and infrastructure markets. The strategic rationale for this transaction centers on a "technological-integration" play, merging the Kerneos's industry-leading technical operational depth in calcium aluminate binders with the group’s established global distribution and mineral processing infrastructure. This structural alignment provides the organization with the scientific talent and high-performance hardware—specifically the target's nine international production sites—required to address the increasing complexity of modern construction chemistry. |
mynth data is contributed by M&A / PE professionals and systematically cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.