Successful Deals with PwC: Swisspearl Group AG acquires Cembrit Group A/S

PwC acted as lead financial advisor to Swisspearl Group AG on the acquisition of Cembrit Group A/S, a leading European fiber cement manufacturer from Solix Group AB, a Swedish investment group.

The Deal

PwC’s Corporate Finance team is pleased to announce the successful acquisition of Cembrit Group A/S, Denmark, (“Cembrit”) by Swisspearl Group AG, Switzerland, (“Swisspearl”). PwC supported Swisspearl as lead financial advisor on the acquisition of Cembrit in a highly competitive auction process as well as on the financing, with additional PwC teams providing financial, tax and HR/pension due diligence services, as well as accounting advisory services and tax structuring support.

With the acquisition of Cembrit, Swisspearl is continuing its growth path and is expanding its international market presence and production sites, becoming the second largest producer in the European fiber cement market. The acquisition is highly complementary in terms of geographical coverage, with Swisspearl servicing primarily the Swiss, Austrian, and Slovenian market and Cembrit predominantly the Nordic countries, Ireland, and the UK. The combination of Swisspearl and Cembrit shows considerable synergy potential, primarily referring to production utilization and acceleration of the pursued sustainability course.

Signing took place on 15 June 2022, while the transaction was closed on 23 June 2022.

Swisspearl

Swisspearl – with its Eternit and Swisspearl brands – is headquartered in Niederurnen, Switzerland. The family-owned company of the Swiss Bernhard Alpstaeg family is the go-to partner for the design of aesthetic and sustainable building envelopes and living spaces. The focus is on innovative system solutions for roofs, facades, gardens, interiors, floors, solar and fire protection. A commitment to ecology in thought and action, as well as a corporate culture based on mutual respect and the utmost appreciation for customers, form the basis for day-to-day operations and the foundation of a worldwide success story. The internationally active Swisspearl Group currently employs a total of 1’200 people and has four production sites in Switzerland, Austria and Slovenia.

Cembrit

Cembrit is one of Europe's main manufacturers of fiber cement facade and building panels as well as roofing products, with over 25 million square meters produced per year. Cembrit had been owned by the Swedish investment group Solix since 2015 and was headquartered in Aalborg, Denmark. The company currently employs 1’400 people and has subsidiaries in 20 countries and five production sites in Finland, the Czech Republic, Hungary and Poland.

The PwC team

Corporate Finance / M&A

Sascha Beer
Michael Huber
Martin Münzberg

Transaction Services

Nico Psarras
Patrick Amstutz

Tax

Jürg Niederbacher
Matthias Ruesch
Masoumeh Kangarani
Roman Seiler

HR/Pensions

Kristi Leibur-Nagel
Ester Lamerikx

CMAAS

Delia Beyeler
Marc Seiler