Cinven's Chryso buys Ruredil

Several assets have been acquired from Ruredil, including the cement additives, technical mortars, accessories for pre-cast systems, fibre, decorative concrete and restoration divisions.

The Rurmec brand and the structural reinforcement business division have not been acquired.

Cinven bought the speciality chemicals group Chryso from LBO France in 2017. The GP made an all-equity offer with a view to refinancing with a €270m covenant-lite term loan B and a €50m rolling credit facility. Leverage on the all-senior deal was estimated to represent 5.25x EBITDA. The deal is the fourth investment from Cinven VI, closed on €7m in 2016.

As of 2017, Chryso's EBITDA stood at around €50m and the business generated a turnover of €300m.

Founded in 1942 and based in Issy-les-Moulineaux, Chryso develops chemical additives and mixtures that improve the performance of concrete and cement. Its products are used for construction materials, and the repair and maintenance of buildings. With 29 manufacturing facilities and four R&D centres spread across Europe, Africa, the Middle East, Asia and the US, Chryso employed 1,130 people in 2017.

In Italy, Chryso operates as Chryso Italia, established in 1997. The acquisition will enable Chryso to strengthen its presence in different market segments, from construction to repair.

Company
Ruredil, founded in the 1950s and headquartered in San Donato Milanese, manufactures chemicals and structural reinforcement systems, owning brands in the construction industry such as Ruredil and Levocell. The business generates revenues of €20m, according to French publication Capital Finance.

People 
Chryso – Thierry Bernard (CEO). 
Cinven – Nicolas Paulmier, Xavier Geismar (partners). 
Ruredil – Diego Donatelli (owner).

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• Topics
• Expansion
• Southern Europe
• Industrials
• Italy
• Cinven
• Build-up