Etex Group enters exclusive negotiations with Lafarge

July 2011

Livingstone Partners’ Industrial team has advised the board of Etex Group SA on the intended €1bn acquisition of Lafarge’s European plasterboard division and its South American gypsum assets.

Etex, a privately held Belgian industrial group, specialises in the manufacture and marketing of high quality building materials and systems. The acquired activities will be combined with the South-American plasterboard activities of Etex Group and Lafarge in a new entity, in which Etex Group will have an 80% share and Lafarge 20%. The new entity will have an estimated annual turnover of €1bn.

Fons Peeters, CEO of Etex commented: “The acquisition of the Lafarge plasterboard division will be a major strategic step for Etex Group and will position our group at the forefront of dry construction. The combination of our activities would create a leading player in the plasterboard market. The synergies with Etex’ existing board business will substantially enhance future growth.”

Livingstone’s London team, led by Partners Simon Cope-Thompson and Phillip McCreanor, provided strategic investment banking advice to the Etex board and shareholders and worked closely with advisory house Lazard.

Simon Cope-Thompson, Partner at Livingstone London said: “We have worked successfully with Etex on several occasions previously, including the €140m sale of Thermalite and the €250m acquisition of Creaton. They valued having an adviser that both understood their strategic priorities while offering an independent sounding board on the deal process and structure.”

Karel de Wilde, Etex Company Secretary and Legal Counsel added: “We have really appreciated the help and guidance that the experienced Livingstone team has provided throughout this highly competitive process, and their ability to think outside the box. They played a vital role in helping us develop our strategy for the acquisition process.”

For further information contact:
Simon Cope-Thompson, Partner
Tel: +44 (0)20 7484 4706
Email: sct@livingstonepartners.co.uk

Kristian Gavan, Director
Tel: +44 (0)20 7484 4747
Email: gavan@livingstonepartners.co.uk