Private equity fund Abac Solutions has closed the sale of Isolana, the Spanish independent distributor of interior finishing and general building materials, to BME Group (owned by Blackstone) after completion of customary regulatory approvals.
Isolana, which traces its origins to 1939, was acquired by Abac Solutions in 2019. The group consists of two distribution formulas, under the brands Isolana and La Especialista, as well as the metal profiles manufacturer Isopractic and the installation company La Instaladora.
Isolana is one of the market leaders in the supply of interior finishing building materials in Spain, with 36 distribution centres and 70,000 sqm facilities. The group benefits from a nationwide network to distribute also other general building materials, predominantly focused on the residential renovation market.
Since Abac Solution’s investment in Isolana in 2019, the company has reached industry leading standards of management, sustainability, processes, quality, and profitability which helped consolidate the company’s leadership in its market.
With this acquisition, BME Group – which is already present in the Netherlands, Belgium, Germany, Switzerland, France, and Austria – complements its geographical coverage, gaining a strong strategic foothold in the Spanish market.
Josep Suriñach, Isolana’s CEO, says: “We would like to thank Abac for their leadership and support in helping us to set our purpose, grow the business and improve digitalisation and sustainability at the company. We are very excited about the prospects of becoming part of the European leader BME Group and leverage its vast resources, talent and industry knowledge to continue innovating and consolidating organic and inorganic growth in the Spanish market”.
Remco Teulings, Group CEO of BME, says: “Isolana marks an important milestone in the journey of our company with the entry into a new, attractive growth market. The acquisition also provides further balance to our already diversified geographic footprint. We believe that Isolana is well positioned to further expand its leading position under the leadership of Josep Suriñach and his team. We very much look forward to welcoming the Isolana employees to our group”.
Oriol Pinya, Abac Capital co-founder, says: “We are very pleased with the transformation Isolana has achieved during our ownership. Josep Suriñach and his team took the legacy of Isolana’s founders and have worked relentlessly to reposition the company as a truly sustainable business becoming the industry leader in the Spanish market. We would like to thank Josep Suriñach and his team for their excellent job and wish them all the best in the new phase of development of the company”.
In this transaction, Abac was advised by Rothschild & Co (M&A), Baker McKenzie (contracts), Attalea (sustainability) and Deloitte (financial, legal, tax and labour due diligence). BME Group was advised by Clifford Chance (legal and labour due diligence and contracts) and PwC (financial and tax due diligence).
