LafargeHolcim to acquire Somaco
Company signs agreement to acquire one of Romania’s leading precast concrete producers
LafargeHolcim have signed an agreement with ORESA, a family-owned equity investment company with Swedish roots that has been active in Romania since 1997, for the acquisition of Somaco, one of the country’s leading precast concrete producers, for an undisclosed sum.
The transaction will allow LafargeHolcim to develop their position in the Romanian building materials market, where the company is already present in the cement, ready-mixed concrete and aggregates segments.
Jan Jenisch, chief executive officer of LafargeHolcim, said: ‘This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions & Products business segment as part of Strategy 2022 – ‘Building for Growth’.
‘The acquisition will enable LafargeHolcim to enter Romania’s fast-growing precast concrete market and become an integrated solutions provider for our local customers.’
Somaco, who have 750 employees and operate five precast concrete plants and one aerated block plant and in Romania, reported net sales of €56 million in 2018.
The company has a strong portfolio of precast solutions for bridges, tunnels, subways and logistics platforms, and supplies products for the residential sector.
Romania’s precast segment is expected to grow over the coming years thanks to the country’s high construction and infrastructure needs.
The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2019.