Park Square Capital, and Goldman Sachs Asset Management, have received a binding offer from the Wienerberger Group AG (Wienerberger) for the acquisition of certain core businesses of pan-European roofing specialist the Terreal Group.
Park Square Capital (Park Square), and Goldman Sachs Asset Management (GSAM), have received a binding offer from the Wienerberger Group AG (Wienerberger) for the acquisition of certain core businesses of pan-European roofing specialist the Terreal Group (Terreal).
The deal is subject to the successful completion of regulatory approvals.
Headquartered in France, Terreal employs more than 3,300 staff across 20 countries, has 33 production sites worldwide, and a strong market presence in France, Germany, Poland, South-eastern Europe, Italy, and the US.
The proposed deal with Wienerberger includes Terreal’s core businesses in France, Italy, Spain, Germany and the US, with the businesses being sold expected to generate revenues of €740 million for 2022.
Park Square has been an investor in Terreal since 2011 and the largest institutional shareholder since 2013, when it led a successful restructuring of the company alongside other institutional and minority shareholders, including GSAM which is Terreal’s second largest shareholder.
Completion is targeted to happen during 2023. For the time being, and until final approval of the competition antitrust authorities, Terreal will continue to operate its business completely separately.
