Lone Star backs €1bn carve-out of Imerys tiles division

Imerys' tiles business was valued at €1bn, equivalent to 9x EBITDA.

Lone Star has previously invested in building materials businesses, having backed Germany-based Xella in 2016 and Denmark-headquartered Stark in 2017, respectively valued at €2.2bn and €1bn.

Imerys, created in 1880, is an industrial minerals business that serves an array of sectors, from processing industries to consumer goods. With headquarters in Paris, the business posted a turnover of €4.6bn and employed 18,000 people as of 2017.

The sale of the tiles division should strengthen the balance sheet of Imerys, which will aim to refocus on performance materials and functional additives.

Imerys notably bought UK-based plastics compounder and recycler Regain Polymers from PE house Aurelius last year.

Company
Imerys Toiture is a roof tiles business that generated a turnover of €300m in 2017, employing a workforce of 1,000 and operating 14 factories in France.

People
Imerys – Gilles Michel (CEO).

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