Braas Monier acquires roof tiles manufacturer in Finland

Braas Monier acquires roof tiles manufacturer in Finland

Braas Monier has acquired A-Tiilikate, a privately owned manufacturer of concrete roof tiles, operating one plant near Helsinki, Finland.

Through the acquisition of A-Tiilikate, number two in the local concrete roof tile market, Braas Monier significantly strengthens its position as market leader in Finland and gains additional potential for selling roofing components to a wider customer base.

For 2015, A-Tiilikate reported revenues of EUR 2.9 million and an Operating EBITDA of EUR 0.2 million. Management expects to generate from this transaction an Operating EBITDA of approximately EUR 1.2 million in 2019.

This includes significant synergies which Management believes to achieve within the next three years. EV / EBITDA is expected to reach approx. 3.6x in 2019, with Enterprise Value including the purchase price, repayment of existing external financing, cost related to the acquisition including its integration, the financing of additional working capital needs and additional capital expenditure (discounted).

The acquisition was fully financed from free cash flow.

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