Gypsum industry news
GMS acquires Serrano Drywall Supply
12 February 2015US: Gypsum Management and Supply Inc (GMS), a US distributor of wallboard, has signed an agreement to acquire Serrano Drywall Supply in Iowa City, Iowa. Serrano Drywall Supply will become the 11th location under Tamarack Materials, a GMS company with locations in Minnesota, Wisconsin and the Dakotas. The deal marks the strategic entrance of GMS into the Iowa marketplace.
"We are excited about the expansion into Iowa," said Jerry Speights, vice president of the Central Division of GMS. "The combined strength of the Tamarack and Serrano brands will come together in Iowa City, presenting an exciting opportunity to service our customers."
"We are pleased to bring Serrano Drywall Supply into the GMS family," said Mike Callahan, president of GMS. "Their commitment to delivering exceptional quality of service, personnel, products and safety fits with the GMS culture. This partnership provides GMS the opportunity to expand our service footprint in the state of Iowa."
Switzerland: Sika has claimed that its controlling family no longer has the right to call an extraordinary general meeting (EGM), marking the latest twist in a Euro2.76bn takeover battle for the company by France's Saint-Gobain. The sale has been opposed by Sika's board and executives, forcing the family to call an EGM where it aims to remove executives who object to it.
Sika insists that the Burkard family, who are descendants of the company's founder, are no longer exempt from a rule that restricts shareholders' to hold no more than 5% of all registered shares. An exception was originally made because of the family's close association with the company and its assertion that it would protect it against takeovers. The company said that the voting rights of the family should be restricted to 5%.
Saint-Gobain announced plans in December 2014 to acquire the holding company Schenker-Winkler Holding AG (SWH), which is the vehicle controlled by the Burkard family. It holds 16.1% of Sika's capital and 52.4% of its voting rights. Saint-Gobain is targeting the Sika stake in an attempt to kick-start its own earnings growth.
"Now that the Burkard family / SWH have formed a group with Saint-Gobain, this historical privilege must be considered lost, together with the right to convene extraordinary general meetings," said Sika. Sika said shareholders representing more than 35% of its total capital have given their assurance that they support the board of directors in its efforts to fend off the takeover.
ABC Supply buys Wameling Drywall
09 January 2015US: Building products distributor ABC Supply has acquired the assets of Wameling Drywall, a distributor of exterior building products, wallboard and insulation in Marcy, New York. Doing business as Gilbert Supply, the branch becomes the newest ABC Supply store and is its first in that market.
"The Utica/Marcy area is poised for growth," said Tom Kuchan, vice president of ABC Supply's northeast region. ABC had formerly been serving the Utica/Marcy area contractors from its branches in Syracuse and Schenectady, New York. "With the addition of a branch in Marcy we will be able to meet their needs more effectively and efficiently," Kuchan said.
ABC Supply is a large wholesale distributor of roofing in the US and one of the country's largest distributors of siding, windows and other select exterior building products. It has more than 490 branches nationwide.
Saint-Gobain Group plans to acquire a controlling stake in Sika
18 December 2014France/Switzerland: Saint-Gobain plans to acquire a controlling stake in Sika, a construction chemicals producer. The transaction involves Saint-Gobain's purchase of Schenker Winkler Holding AG, which owns 16.1% of Sika's capital and 52.4% of voting shares, for Euro2.3bn.
After the acquisition, Saint-Gobain will be able to fully-consolidate Sika into its operations, which will have a positive impact on net income in the year after consolidation. Saint-Gobain Group does not intend to make an offer for the remaining shares of Sika.
Sika has 16,000 employees in 84 countries. Its total sales in 2013 amounted to Euro4.3bn. It has experienced an average of 8%/yr growth in 2007-2013. Given the similarity in the activities of Sika and Saint-Gobain, it is expected that the acquisition will generate Euro100m in synergies from the second year of consolidation (2017) and Euro180m by 2019.
The deal requires the permission of the competent antitrust authorities and is expected to be completed no later than the second half of 2015.
US LBM buys Wallboard Supply Company
27 November 2014US: US LBM Holdings has acquired Wallboard Supply Company of Londonderry, New Hampshire from the Filion family and its investors. President John Filion will continue to lead the company along with Vice President Ryan Filion and all members of the management team.
"Expanding our strong presence and capabilities along the East Coast, Wallboard Supply Company represents a great addition to the US LBM family of companies," said LT Gibson, President and CEO of US LBM. "Our commitment to partner with specialty distributors in the wallboard category ensures US LBM's top place as one of the most diverse providers of building materials in the country."
Wallboard Supply Company is a third generation, family-run business that has operated in New England since 1970. Its product line includes gypsum wallboard, metal framing, insulation, lumber and ceilings. The company has its headquarters in Londonderry, New Hampshire with four locations in Braintree in Maryland in Portland, Maine Hermon in Maine and Williston in Vermont.
India's UltraTech acquires 51% stake in Oman's Awam Minerals
04 November 2014India/Oman: UltraTech Cement Middle East Investments, a wholly owned subsidiary of India's UltraTech Cement, has acquired a majority stake (51%) in Omani gypsum mining firm Awam Minerals LLC.
Awam Minerals has a license to mine substantial gypsum deposits in the south of Oman. It's gypsum mining license will serve as a captive mine for the network of cement plants owned by UltraTech Cement in India, two grinding units and a cement plant in the UAE, as well as a grinding unit in Bahrain through its Middle East subsidiary.
Bergauf Building Materials buys plant in Sterlitamak
21 October 2014Russia: The Ural-based company Bergauf Building Materials has purchased a production facility in Sterlitamak in the Bashkortostan Republic, Volga, from HeidelbergCement. The deal included a plant producing dry mortars under the brand Bystroy and a gypsum production complex. The price of the assets has not been reported.
Harrison Gypsum acquires the Gravel Company
17 October 2014US: Harrison Gypsum LLC, a producer of gypsum and plaster products, has acquired the Gravel Company LLC, a producer of aggregate materials for the construction industry. Both companies are based in the US. The acquisition will allow Harrison Gypsum to expand its operations in the Eagle Ford region in South Texas.
Romania: A Romanian investment fund, SIF Muntenia, has sold its 10.3% stake in Lafarge Agregate Betoane to its majority owner, Lafarge, for Euro1.3m. Lafarge bought 619,148 shares of Lafarge Agregate Betoane from SIF Muntenia at a price of Euro2.07/share. Lafarge Agregate Betoane quarries ornamental and building stone, limestone, gypsum, chalk and slate.
Harrison Gypsum buys Pinnacle Materials Eagle Ford arm
05 September 2013US: US private equity firm HIG Capital LLC said that its portfolio firm, gypsum and plaster products maker Harrison Gypsum LLC had bought the Eagle Ford unit of aggregate materials and soil stabilisation products supplier Pinnacle Materials LLC. Financial details were not revealed.