Completion of the Acquisition of CHRYSO by Cinven
On March 24th, 2017, international private equity firm Cinven entered into exclusive negotiations to acquire CHRYSO from LBO France. The acquisition was completed on June 28th, 2017, making it the 4th investment from The Sixth Cinven Fund.
Thierry Bernard, President and CEO of the CHRYSO Group, comments: “Over the past three years, our Group has conducted significant transformations and reinforced its presence in emerging economies, by acquiring local businesses with strong potential, and creating some new subsidiaries:
- Sri Lanka - November 2014: acquisition of Concrete Solutions Technologies, now CHRYSO Lanka Pvt Ltd;
- Algeria - November 2014: creation of CHRYSO Hydipco;
- Kenya - May 2015: creation of CHRYSO Eastern Africa;
- Sweden - July 2015: acquisition of Betongkemi AB, now CHRYSO Nordic AB;
- Qatar - December 2015: acquisition of Corrotech Qatar, now CHRYSO Gulf;
- The Philippines - April 2016: acquisition of Philprime Global Corporation;
- And eventually the simultaneous acquisition in France of MODERNE MÉTHODE and BÉTON ACADEMY, in November 2016, which has allowed the creation of a unique offering for decorative concrete. It comprises a certified training centre on the techniques of application, as well as a large and effective range for the New Construction and Restoration markets.”
In parallel, CHRYSO has upgraded and completed its industrial footprint. Some new facilities were built in the United Kingdom and Algeria, while a third plant was built in Adana, Turkey. Moreover, the Group has maintained an important focus on innovation. Indeed, some new leading technologies, such as concrete superplasticizer CHRYSO®Optima 1000 and cement activator CHRYSO®AMA EL 100 series, were launched recently to provide customers’ materials with even more added value.
“Thanks to its enlarged geographic imprint and its portfolio of leading technologies, CHRYSO has participated to some exceptional realisations and prestigious jobsites across the globe: the new seaside road on the Reunion island, Sultan Yavuz Selim Bridge in Istanbul, the Greater Paris project, and many others.”
Thierry Bernard concludes: “We look forward to continuing the development of our ambitious strategy to become a global leader with the support of Cinven.”