E+H advises the leading international manufacturer of building materials and infrastructure solutions, Wienerberger AG, on acquiring major business units of the Terreal Group, a French headquartered provider of roofing and solar solutions. The acquisition involves the Terreal operations in France, Italy, Spain, and the USA, and the Creaton business in Germany and the Benelux countries.
The Terreal business to be acquired by Wienerberger is expected to generate revenues of EUR 740 million and run-rate EBITDA of EUR 100 million in the 2022 financial year. The enterprise value of the Terreal businesses concerned is EUR 600 million, subject to customary closing adjustments.
The acquisition agreement was signed at the end of December, marking the start of the exclusive negotiation phase. The closing is expected to take place over the course of 2023. The transaction was led by E+H partner Josef Schmidt, member of the Corporate + M&A practice group, and attorney-at-law Steve Jeitler, who jointly coordinated a team of law firms in various jurisdictions. Cross-border advice was provided in France in cooperation with Latham & Watkins and ADVANT Altana, in Germany with ADVANT Beiten, in Spain with Garrigues, in Italy with Masotti Cassella, in the US with Holland & Knight, and in Belgium with Stibbe. The merger control work stream was led by ADVANT Beiten (Berlin, Munich).
Lead: Josef Schmidt (Corporate + M&A), Steve Jeitler (attorney-at-law, (“ständiger Substitut”), Corporate + M&A)
Team: Peter Winkler (partner, Corporate + M&A), Dominik Juster (partner, Corporate + M&A), Philipp Schrader (partner, Corporate + M&A), Alina Holzer (associate, Corporate + M&A), Alexander Koschell (associate, Corporate + M&A)
The Wienerberger Group is a leading international supplier of smart solutions for the entire building structure and infrastructure. Wienerberger is the world’s largest producer of bricks (Porotherm, Terca), and the market leader for clay roof tiles (Koramic, Tondach) in Europe, and of concrete pavers (Semmelrock) in Eastern Europe. In pipe systems (vitrified clay pipes under the Steinzeug-Keramo brand and plastic pipes under the Pipelife brand), the company is one of the leading suppliers in Europe. With the acquisition of Meridian Brick, Wienerberger further strengthened its position as a leading supplier of facade products in North America. With 216 production sites across the Group, Wienerberger generated revenues of approximately € 4.0 billion and adjusted EBITDA of € 671 million in 2021.
E+H is an international commercial law firm with offices in Vienna, Graz, Klagenfurt, and Brussels that takes legal advice to the next level. The firm regularly receives awards and top spots in international rankings and directories, such as Chambers & Partners Global & Europe, Legal 500, JUVE, and Mergermarket.
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Last update: 10 January 2023