LONDON, UK: Saint-Gobain, through its Chryso business, has accomplished the acquisition of Matchem in Brazil and entered into unique negotiations to purchase IDP Chemicals in Egypt.
The acquisitions of Matchem and IDP Chemicals will allow Saint-Gobain to strengthen its place in construction chemicals, in particular concrete admixtures which play a key role inside the decarbonization of the development industry. These two companies are focused on the buoyant constructing and infrastructure markets in Brazil and Egypt, which ought to see strong growth for the years to come.
Matchem, established in 2011, employs round 50 people throughout two plants in Brazil and generated revenues of near €20 million in 2022. Together with Quartzolit, chief in mortars (tile fixings, wall and floor coatings, waterproofing membranes), TekBond, sealant and adhesive specialist, and the recently acquired GCP Applied Technologies, Matchem will reinforce Saint-Gobain’s platform in construction chemicals, a chief on the Brazilian market with 24 industrial sites.
IDP Chemicals, licensed by Chryso since 2018, employs 25 people at one plant and is well positioned to serve the dynamic construction market in Egypt. This acquisition ought to be finalized inside the primary quarter of 2023.
Chryso advantages from Saint-Gobain’s strong presence in Brazil and Egypt to speed up its inorganic growth strategy. Matchem and IDP Chemicals will be consolidated inside the Construction Chemicals segment in High Performance Solutions.
The acquisitions of Matchem and IDP Chemicals are in line with Saint-Gobain’s “Grow & Impact” technique aiming to each strengthen the Group’s management and speed up its growth by enriching its vary of options for light and sustainable construction.