In line with its May 20, 2021 announcement, Saint-Gobain has today completed its acquisition of Chryso, a leading global player on the construction chemicals market.
Chryso provides comprehensive additives solutions for sustainable construction, helping to significantly reduce the carbon footprint of concrete. The company employs about 1,300 employees and generates approximately €400 million in annual sales and around €85 million in EBITDA.
The enterprise value of €1,020 million represents a multiple of 12.0x Chryso’s last 12 months EBITDA of €85 million and a multiple of 7.6x post run-rate synergies of €50 million in year 5.
Chryso joins the businesses serving the sustainable construction market within the High Performance Solutions segment.
Benoit Bazin, Chief Executive Officer of Saint-Gobain, commented: “The acquisition of Chryso is fully in line with our strategic vision of Saint-Gobain as a world leader in sustainable construction focused on solutions offering sustainability and performance to our customers. Chryso significantly strengthens our presence on the growing construction chemicals market, where we have completed 10 acquisitions and opened 16 plants in 18 countries over the past three years, with sales today exceeding €3.0 billion in 66 countries.”
Thierry Bernard, Chairman and Chief Executive Officer of Chryso, commented:“We are delighted to be joining the Saint-Gobain Group today. The first exchanges between our teams in preparation for the integration were very enthusiastic and confirm the strong growth outlook for Chryso – particularly in regions where we are not yet present – as well as our development strategy driven by innovation and high performance solutions and the cultural proximity of our teams.”