Broadview Closes USD 840m Acquisition of Formica Group from Fletcher Building.
M2 EQUITYBITES-June 7, 2019-Broadview Closes USD 840m Acquisition of Formica Group from Fletcher Building
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7 June 2019 - Netherlands-based industrial holding company Broadview Holding has completed the USD 840m acquisition of Cincinnati, US-based Formica Group from Fletcher Building, the company said.
The sale includes Formica businesses in North America, Europe, and Asia, as well as its Homapal metal laminates business.
The sale was first announced in December 2018 with the signing of a sale purchase agreement.
Formica Group invented laminate in 1913 and remains a provider of branded, designed surfacing solutions for commercial and residential customers worldwide. Broadview Holding also owns Trespa (a leader in exterior HPL cladding), Arpa (known for its Fenix product line), and Westag (manufacturer of doors, elements and surfaces with a significant footprint in Germany).
Based in 's-Hertogenbosch, the Netherlands, Broadview is a holding company that pursues long-term growth and value creation through active support of its operating companies. Broadview is controlled by HAL Holding N.V., an international holding company with a history that dates back to 1873.
Like HAL, Broadview has a long-term perspective, and accordingly, an unrestricted holding period. The current portfolio covers two industry clusters: material technology and energy. With the acquisition of Formica Group, Broadview strengthens its position as a leader in surface materials.
Founded in 1913, Formica Corp., part of the Formica Group of companies, is in the design, manufacture and distribution of innovative surfacing products for commercial and residential applications.
Formica Group is a global group of companies consisting of Formica Canada Inc., Formica Corp., Formica de Mexico S.A. de C.V., Formica IKI Oy, Formica Skandinavien AB, Formica Ltd., Formica S.A., Formica S.A.S., Formica Taiwan Corp., Formica (Thailand) Co., Ltd., Formica (Asia) Ltd., Formica Decorative Materials (China) Co., Ltd. and Homapal GmbH, among others.
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