Acquisition of Lafarge Roofing by PAI partners.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- PAI PAI plasminogen activator inhibitor. PAI Plasminogen activator inhibitor, see there partners and Lafarge announce that they completed yesterday the sale of Lafarge Roofing to PAI partners, for an enterprise value of [euro]2.4 billion. Lafarge has reinvested alongside PAI partners a 35% stake in the new entity. Lafarge Roofing manufactures and sells a comprehensive range of concrete and clay tiles for pitched roofs, roofing components and chimney systems, for new build and renovation purposes in both the residential and non residential markets. The company is the world number one in its sector, with expected net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight and proforma EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of [euro]1.6 billion and [euro]268 million respectively for FY 2006. Lafarge Roofing operates 210 production plants in 41 countries. Of these, 120 make concrete tiles, 52 make clay tiles, 23 make chimney systems, 6 make Roofing Systems Components and 9 make miscellaneous other products. Lafarge Roofing employs 12,000 people. Bertrand Meunier, Senior Partner at PAI said: "Lafarge Roofing is a highly attractive business. With its diversified product portfolio, large geographical presence, and strong market share everywhere it operates, Lafarge Roofing has excellent prospects notably through a number of sales initiatives and through further consolidation of its markets. This investment is a good example of PAI's strategy to invest in market leaders. The strong expertise PAI has developed in the building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . sector through a number of prior investments was key in quickly understanding the business and assessing its development opportunities." Bruno Lafont, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Lafarge stated: "The 35% stake that we have decided to take in the capital of the new entity demonstrates that we want to take part in its future success by maintaining a link with this activity. We are very pleased to be shareholders alongside PAI, who offered the best solution for this activity and its employees." Regarding PAI partners: PAI is a leading European private equity firm with offices in Paris, London, Madrid and Milan. PAI manages and advises dedicated buyout funds with an aggregate equity value of over [euro]7 billion. In recent years, PAI has led several high profile European leveraged buyouts of sector-leading companies. Acquisitions have included: Antargaz, the leading LPG LPG: see liquefied petroleum gas. 1. LPG - Linguaggio Procedure Grafiche (Italian for "Graphical Procedures Language"). dott. Gabriele Selmi. Roughly a cross between Fortran and APL, with graphical-oriented extensions and several peculiarities. distributor in France ([euro]520 million); Chr. Hansen Chr. Hansen is a Danish food production company. They sell a wide variety of pharmaceutical grade exipients. The group employs approximately 2,500 employees in more than 30 countries and reported revenue of EUR 521m (DKK 3.77m DKK)in 2005/06. Chr. , the worldwide leader in natural ingredients to the food industry ([euro]1.1 billion); Coin, the market leading apparel retailer in Italy ([euro]640 million); Cortefiel, the market leading apparel retailer in Spain ([euro]1.5 billion); Elis, the European leader in the textile rental and well-being services industry ([euro]1.5 billion); FTE FTE Full-Time Equivalent FTE Full-Time Employee FTE Full-Time Equivalency FTE Full Time Employment FTE Foundation for Teaching Economics FTE Full Time Enrollment FTE For the Enterprise (SQL) FTE Fund for Theological Education , the worldwide leader in advanced clutch actuation systems for cars and light vehicles ([euro]370 million); Global Closure Systems, the worldwide leader in speciality and beverage closure systems ([euro]583 million); Kwik-Fit, Europe's largest automotive fast-fit services provider ([euro]1.2 billion); Perstorp, the world leading producer of added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
PAI is characterized by its operational approach to ownership combined with industrial and sector expertise. PAI provides portfolio companies with the financial and strategic support required to pursue their development and enhance strategic value creation. For further information on PAI partners: www.paipartners.com Regarding Lafarge: Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. . With 71,000 employees in over 70 countries, Lafarge posted sales of Euros 17 billion in 2006. Lafarge has been committed to sustainable development for many years, pursuing a strategy that combines industrial know-how with performance, value creation, respect for employees and local cultures, environmental protection and the conservation of natural resources conservation of natural resources, the wise use of the earth's resources by humanity. The term conservation came into use in the late 19th cent. and referred to the management, mainly for economic reasons, of such valuable natural resources as timber, fish, and energy. Lafarge is the only company in the construction materials sector to be listed in the 2007 '100 Global Most Sustainable Corporations in the World'. To make advances in building materials, Lafarge places the customer at the heart of its concerns. It offers the construction industry and the general public innovative solutions bringing greater safety, comfort and quality to their everyday surroundings. Additional information is available on the web site at www.lafarge.com. |
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