Consolis to sell French civil works business Bonna Sabla to EIM Capital
Consolis, a European manufacturer of precast construction solutions, has received a binding offer for its French civil works division Bonna Sabla from EIM Capital, a private equity firm focused on the acquisition, transformation and development of companies of tomorrow in need of a new impetus.
The French civil works division Bonna Sabla consists of a portfolio of brands and activities that are leaders in their respective markets, including MPB, ABM, and a funeral business.
This project remains subject to consultation with employees’ representatives. Consolis will continue to own and operate Bonna Sabla until completion of the transaction, which is expected over the course of the next six months.
Mikael Stöhr, CEO of Consolis, says: “Consolis continues to implement its strategy to focus on its core building business with a market leading position in Europe. We see significant market opportunities within both residential and nonresidential building solutions across all our markets.”
Mikael Stöhr, says: “This transaction would benefit our customers, our teams and our partners. The underlying industrial logic is to focus resources and talents to create substantial value for all stakeholders. Consolis would strengthen its focus on building solutions across Europe, while Bonna Sabla will be able to develop even further on its own merits.”
Eric Lobbé, who currently leads Consolis French civil works division Bonna Sabla and will be the CEO of this new entity under new ownership, said:
“We have the right teams and set of manufacturing facilities in France to pursue and develop our drainage precast solutions through well-known brands as Bonna Sabla, MPB and ABM. To be a pure player will allow us to capture significant organic growth opportunities, as well as being ready for future acquisitions. We will keep on pushing innovation to serve our customers.”
Renaud Delaage, founding partner of EIM Capital, says: “We are very pleased to be acquiring Bonna Sabla. The transaction sits squarely within our ‘sweet spot’ of investing in industrial companies and is designed, specifically, to further leverage our deep-rooted expertise in the concrete sector. We believe there is great development 2/2 potential in Bonna Sabla, thanks to the company’s excellent reputation and strong market position. We will partner with, and support, the current management team in the deployment of its strategic orientations to optimize growth and value over the long-term.”
Luigi Chiaraviglio, also founding partner of EIM Capital, adds: “Acquiring Bonna Sabla builds upon what is already a highly successful portfolio of companies within industrials for us. We have invested in a range of infrastructure providers – from piping systems for water management to urban hygiene. It is a highly logical decision to take on Bonna Sabla and we look forward to developing the company further and collaborating with the senior team.”