Bucharest - 20 octombrie 2010
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Onduline, a worldwide specialist in lightweight roofing, continues its international expansion with the acquisition of Tallant, an industry leader in the United States. This deal enables Onduline to take a major step in its development by securing a position in the biggest global market.
Founded in Paris in 1950, Onduline manufactures and sells lightweight roofing solutions. It distributes its products in more than 100 countries and employs some 1,300 people. Well-established internationally, with 40 subsidiaries and 10 factories, Onduline has a turnover of more than EUR 300 million, 60% of which comes from high-growth emerging markets (Russia, China, Brazil, Turkey, etc.).
Since 2006, the company has been backed by Abénex Capital and Astorg Partners, following a majority LBO that allowed the company to accelerate its development. Its financial backers have in particular enabled it to consolidate its presence overseas, with the creation from 2008 of 6 sales subsidiaries (Colombia, Peru, Chile, Vietnam, India and Finland) and the construction of a new factory in Russia.
By acquiring Tallant, a market leader in the United States and Canada with the Ondura and Tuftex brands, Onduline secures a privileged position in the North American market. With a USD 35 million turnover, the American company’s main focus is on the housing renovation and home improvement sectors, which help to shield it from the decline in the new construction market. This deal, entirely funded by Onduline’s equity, represents a major investment for the group, which strongly increases its accessible market whilst remaining within its core business.
Paul Nelson, CEO of Tallant and CEO of the new entity, OFIC North America, adds: "Tallant is very well-established in the dynamic DIY sector. In this context, we are particularly pleased that Onduline came along; the company brings its know-how and innovative technologies to accelerate the development of our company whilst giving us the independence necessary for conducting our local business."
Jean-Noël Fourel, CEO of the Onduline Group explains: "In recent years, we have opted for a marketing strategy squarely focused on the end user and on international development. The acquisition of Tallant, undisputed leader in the first world market for lightweight construction, is an illustration of the Group’s dynamism and ambitious strategy, which will serve as a base from which to increase its penetration of this important market. Several innovative products developed elsewhere in the Group will consequently be launched in the USA and Canada."
Contact:
SC ONDULINE MATERIALE DE CONSTRUCTII SRL
Tel: 021.233.1264
Fax: 021.233.1267
E-mail: office@onduline.ro
http://www.onduline.ro/
Cuvinte cheie:
Onduline Tallant roofing