Turkish building materials company Cimsa has agreed to acquire a 94.7% stake in Mannok, an Ireland-based construction products manufacturer, for an enterprise value of €330m ($334.06m).  

The transaction will see the local leadership team at Mannok retain a 5.3% interest in the company.  

This acquisition is subject to customary regulatory approvals. 

The deal will allow Cimsa to retain the Mannok brand and operate it as a growth hub within Ireland and the UK.  

It is set to enhance Cimsa's product portfolio, diversify its production geography, and strengthen both its local and global supply chains. 

This marks Cimsa's third investment in the past three years, with previous investments made in Spain and the US.  

The move aligns with the company's broader transformation strategy. 

This strategy focuses on transitioning from cement to building materials, expanding from local to global markets, and moving from 'Grey to Green'. 

Mannok currently employs approximately 800 staff and operates two divisions.  

Its operations include the manufacture of cement, concrete, quarry and aggregate products, insulation materials, and packaging products for the food industry. 

Cimsa is a subsidiary of Sabanci Holding which operates in cement and building materials, energy and climate technologies, industrials, banking and financial services, retail, and digital industries.  

Cimsa CEO Umut Zenar said: “We believe this agreement marks the beginning of a new era for Mannok. At Cimsa our model is to back great local businesses and management, and we look forward to creating new employment opportunities in the region as we support Mannok’s continuing growth and sustainability ambitions.  

“Given its border location, Mannok has unique access to UK and EU markets, and we see it as a key stepping stone in expanding our footprint in Western Europe. For Mannok staff, joining the Sabanci ecosystem will also present a world of opportunity for career development and progression and exposure to innovation in product development, sustainability, and digitalisation.”