Cementos Molins will become the world’s second largest producer of calcium aluminate cement (CAC) following the acquisition of Calucem.

The acquisition, valued at 150 million euros, will boost Cementos Molins’ growth in innovative solutions for the construction sector.

The acquisition, valued at 150 million euros, will boost Cementos Molins’ growth in innovative solutions for the construction sector.

2 August 2021_ Cementos Molins has reached an agreement with Fondo Ambienta SGR SpA, Europe’s largest sustainable investment fund, to acquire 100% of Calucem. With this important milestone, Cementos Molins will expand and enhance its offering of innovative and sustainable building solutions and become the world’s second largest producer of calcium aluminate cement (CAC); at the same time, it will boost its international development and take a major step forward in its strategy of profitable and sustainable growth.

Precisely, calcium aluminate cement was the business with which Cementos Molins started its activity in 1928 in Sant Vicenç des Horts (Barcelona).

Calucem, almost a century old and headquartered in Mannheim (Germany), is a brand well known for the high quality of its products and services, as well as for its innovative capacity to reduce CO2 emissions. The company has a broad portfolio of innovative solutions for different segments of the construction chemistry market with applications in technical and self-levelling mortars, additives and adhesives, pipes or refractory material among many others. Calucem has a production plant in Pula (Croatia) with its own on-site port to supply customers in more than 60 countries, an innovation centre in Germany, and serves customers worldwide through its extensive network of sales offices and distribution centres in Europe, the United States and Asia.

Julio Rodríguez, CEO of Cementos Molins, highlights “This is a great strategic step that will allow us to create a platform focused on innovation, sustainability and global growth to expand our activity in the construction chemicals sector”, and adds “We are impressed with what Yuri Bouwhuis and the Calucem team have achieved over the years, and we look forward to welcoming them soon to the Cementos Molins family; Calucem’s deep industry knowledge and experience, high quality product range, service and customer oriented organisation, combined with innovation capabilities, will bring great value to Cementos Molins and allow us to develop a lot of synergies”.

Yuri Bouwhuis, CEO of Calucem, comments “I would like to express my sincere thanks to the entire Calucem team. In recent years, the company has shown great growth, incorporating new products and more sustainable solutions. We are excited to continue this development as part of Cementos Molins, sharing its values and creating more value for our customers together.

Calucem has 180 employees and achieved sales of 58 million euros, with an EBITDA of 16 million euros during the last twelve months, which will be added to the CAC operations of Cementos Molins.

The transaction, valued at EUR 150 million (“enterprise value”), is expected to close in the fourth quarter of 2021 and is subject to regulatory approval in some countries. In the meantime, both companies will continue to operate independently until the completion of the acquisition process.

Cementos Molins has counted on Evercore as strategic and financial advisor, Cuatrecasas as legal and tax advisor, Deloitte as due diligence advisor, and Marsh as broker and insurance advisor.

About Cementos Molins. At Cementos Molins we have been creating products and developing innovative and sustainable solutions for the construction sector for more than 90 years, contributing to the development of society, the quality of life of people and the protection of the environment. We currently operate in Spain, Mexico, Argentina, Uruguay, Bolivia, Colombia, Tunisia, Bangladesh and India. Our integrated model includes the businesses of aggregates, cement, concrete, mortars, prefabricated products, urban environment and architectural façades, as well as waste recovery. Our long history has been made possible by our team of more than 5,000 employees in nine countries and on four continents, working every day with passion, respect and integrity.