Selena FM S.A. signed a conditional share purchase agreement to acquire 100% of the shares in Irmãos Guimarães Martins, SGPS, S.A. (Grupo IGM), the Portuguese holding company and leader in the production and distribution of high-quality sandwich panels. This transaction will take place as a staged transaction and will significantly expand Selena’s product portfolio and will strengthen its position in the Iberian markets. This acquisition is also an important step in implementing the Selena Group’s business scaling strategy, which is based on mergers and acquisitions – particularly in the thermal insulation segment – and is currently a leading development trend in the domestic and global construction industry.
The agreement was concluded by Selena with the shareholders of Grupo IGM under conditions precedent. Its finalization will depend on the fulfillment of certain conditions precedent, including obtaining the consent of the Portuguese antitrust authority and a positive outcome of due diligence.
The acquisition of Grupo IGM shares by Selena FM S.A. will take place as a staged transaction. In the first stage, Selena will acquire 66% of the shares, while in the second stage, the remaining 34% of the shares will be purchased. Ultimately, once all the conditions precedent in the agreement have been fulfilled, Selena FM S.A. will acquire 100% of the shares in Grupo IGM.
Grupo IGM is a dynamically developing capital group whose activities focus on the production, distribution, and sale of isothermal solutions for roofs and facades, in particular sandwich panels, metal profiles, and related finishing elements, mainly for the residential and industrial construction industries. Thanks to its own production facilities in Portugal, the company has achieved a double-digit share of the domestic market in the sandwich panel segment, and its products are also present in Spain and selected export markets. In 2024, the IGM Group recorded sales of €66.5 million.
The acquisition of the Portuguese company will allow the Selena Group to significantly expand its offering with a new product and, at the same time, respond to the growing market demand for high-quality, innovative thermal insulation solutions.
The Management Board of the Company will announce the finalization of the transaction and the fulfillment of the conditions precedent in separate announcements.
