Holcim agreed on 20 August to buy Fermacell, the European walling and flooring business of James Hardie Industries, for €840m.
Why Holcim AG is buying Fermacell (James Hardie Europe)
Holcim said the acquisition extends its building solutions portfolio with Fermacell's fibre gypsum and cement-bonded boards and its fermacell and Aestuver brands. It expects the deal to be accretive to earnings per share in the first year.
“This strategic acquisition is another milestone in our vision to be the leading partner for sustainable construction”
Deal terms and financing
The €840m transaction value implies 9.5 times pro forma 2027 EBITDA, or 7.6 times after about €22m of run-rate EBITDA synergies expected in year three. Fermacell, which makes fibre gypsum and cement-bonded boards, expects 2026 net sales of about €430m.
Regulatory approvals and timing
Closing is targeted for the first half of 2027, subject to customary conditions and regulatory clearances.
Market context
Fermacell is headquartered in Düsseldorf, has more than 1,000 employees and six production sites, and sells in 13 European markets.
