The deal was financed via cash. Credit: JeanLucIchard via Shutterstock.

Saint-Gobain has concluded its acquisition of FOSROC, a construction chemicals company, bolstering its position in the global market.

The move represents another key step in establishing Saint-Gobain’s presence in the construction chemicals sector globally, which is expected to reach combined sales of €6.5bn ($6.73bn) across 76 countries post-acquisition.

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FOSROC, which specialises in an array of construction solutions, has reported a consistent growth rate, with revenues projected at $487m for 2024. This figure reflects an average annual growth of approximately 11% since 2021.

The company’s portfolio includes admixtures and additives for concrete and cement, as well as adhesives, sealants, waterproofing, and flooring solutions.

FOSROC owns 20 manufacturing plants and a workforce of approximately 3,000. Saint-Gobain will integrate FOSROC into its high-performance solutions segment.

Saint Gobain has stated that the acquisition will enhance its presence in high-growth emerging markets, particularly in India and the Middle East.

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The deal was fully financed in cash, according to the company’s June 2024 press release.

The purchase price was based on an acquisition multiple of around 11.3 times FOSROC’s 2024 earnings before interest, taxes, depreciation, and amortisation of $91m. Including expected synergies of approximately $54m in the third year, the multiple is reduced to about 7.1 times.

In October 2024, Saint-Gobain agreed to acquire Kilwaughter Minerals, a Northern Irish quarrying and mineral processor, with the transaction set to close in the first half of 2025.

Following this, in December, Saint-Gobain completed the sale of its pipes subsidiary, PAM Building, to Aldebaran, with a minority stake held by Bpifrance.