Solix Group $200 million acquisition of Cembrit Holding from FLSmidth & Co

Overview:

• A group of investors, led by the Solix Group, completed the acquisition of European fibre-cement company Cembrit Holding for DKr1.1 billion from FLSmidth & Co.
• The sale of Cembrit was initially attempted in August 2012, but stalled and then postponed. The company had hoped to implement additional internal processes in the interim (such as appointing a new board of directors and introducing sales initiatives), but Solix made an unsolicited offer which FLSmidth accepted.
• Cembrit had been part of FLSmidth since 1927 and the transaction marks the conclusion of the company's divestment of its building materials companies, a process begun in 2005.

Rani Mehta - Journalist