mynth
01/2006MajorityLBO

Wendel takes majority stake in Materis

LUXEMBOURG Chemicals & Materials / Construction Materials EV €1–10bn

Context

Wendel has announced that it has entered into an agreement with LBO France to acquire a majority stake in Materis. The transaction, which involves €420 million in equity (Wendel and management), is based on an industrial platform strategy, with a continued focus on executing Materis' business development plan across its core markets and geographies. Following the transaction, Materis will have the financial flexibility to undertake acquisitions of up to €150 million over the next two to three years, using its own resources.

In the past, Materis was acquired by LBO France in 2003 as part of its expansion strategy.

Materis, which reported an EBITDA margin of 15.7% in 2005, is valued in this transaction at an EV/EBITDA multiple of 8.5x.

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Target

Materis is a leading industrial player specializing in construction materials and building solutions. The group develops and manufactures a range of technical materials for sector professionals, covering multiple complementary segments. Its activities focus on concrete admixtures, calcium aluminates, industrial mortars, decorative paints, and refractory products used in high-temperature environments. This diversified portfolio enables the company to cater to a wide range of needs, from new construction to renovation, as well as demanding industrial applications. The company leverages its strong expertise in materials chemistry and formulation, with a performance-driven approach emphasizing product durability and resistance. Materis operates multiple production sites and technical centers, facilitating the development of tailored solutions that meet local constraints and building market standards. With a presence in numerous countries, the group serves a customer base primarily comprising professionals, including industrial companies, construction firms, and specialized distributors. Materis' business model is built on proximity to local markets, adapting formulations to regional needs, and providing technical support to users on-site. This multi-disciplinary approach allows the company to intervene across the entire construction materials value chain, delivering comprehensive solutions to its customers.

Ent. Value

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€2bn

Equity Value

[members only]

Multiples

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EV / Revenue

1.3x

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EV / EBITDA

8.5x

EV / EBIT

[members only]

Historical Financials (EUR)

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Year
Rev
EBITDA
EBIT
2005
1.5bn
235m
[members only]
2004
€1–10bn
€150–250M
[members only]

Other operations with Materis

Other operations with Materis
DateAcquirerTargetCountrySector
09/2003LBO FRANCEMATERISLUXEMBOURGConstruction Materials

Other operations with Wendel

Other operations with Wendel
DateAcquirerTargetCountrySector
10/2024WENDELGLOBEDUCATESPAINEducation Providers
07/2023WENDELSCALIANFRANCEConsulting & Integration
04/2021WENDELTARKETTFRANCEFlooring

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06/2013CINVENCERAMTECGERMANYGlass & Ceramics
11/2011DENTRESSANGLECHEMICAFRANCEPlastics
02/2011ICGGERFLORFRANCEFlooring
11/2010ARDIANNOVACAPFRANCESpecialty Chemicals
01/2010OAKTREE CAPITAL MANAGEMENTVERESCENCEFRANCEGlass Packaging
10/2006ARDIANGERFLORFRANCEFlooring
09/2003LBO FRANCEMATERISLUXEMBOURGConstruction Materials

REFERENCES

Valuation range: EV €1–10bn

Revenue range: €1–10bn

EBITDA range: €150–250M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Materis by Wendel are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Materis, a Luxembourgish company specialised in Construction Materials, by Wendel in 2006, structured as a leveraged buyout (LBO). This followed an earlier holding cycle initiated in September 2003, when the company was acquired by LBO France.

How was the acquisition of Materis by Wendel valued, and what multiples were paid?

The transaction valued Materis at an enterprise value of €2bn, implying an EV/EBITDA multiple of 8.5x and an EV/revenue multiple of 1.3x.

What were Materis’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Materis reported annual revenue of €1.5bn and EBITDA of €235m (FY 2005).

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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