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Selena acquires 100% stake in Spanish Quilosa

Under sale agreement signed on 30 March 2011, Selena Group – a globally-operating manufacturer and distributor of chemical building products […]

Under sale agreement signed on 30 March 2011, Selena Group – a globally-operating manufacturer and distributor of chemical building products – acquired 100% stake in „Industrias Quimicas Löwenberg” SL (Quilosa). The deal done between Selena Co SA – a company-member of Selena Group – and Lowinter Holding XXI SL (previously Quilosa Holding XXI, S.L.) pertains to the acquisition of 49% share in Quilosa.

Selena Group has owned 51% stake in the Spanish company since July 2009. Currently, after having acquired the remaining 49%, the Group owns 100% of the number of votes at Quilosa’s shareholder meetings and 100% of the share capital.

In 2010, Quilosa posted EUR 34 m in revenue and reported increase in sales. The company has been operating since 1940 and is one of the leaders in the Iberian market of sealants and adhesives. Majority of its income originates from sales in the Spanish and Portuguese markets. The company also carries out export operations in Central Europe, South America and Northern Africa.

Thanks to the new strategy, Quilosa is starting to regain its position in the Spanish market – despite the still unfavourable circumstances, with most construction and renovation works put on hold. In 2010, the company reported 8% increase in total sales and we expect the growing trend to continue this year” – says Krzysztof Domarecki, the CEO of Selena FM SA, the Group’s parent company.

Selena’s investment in Quilosa, since 2009 – when the Group acquired 51% stake, let financial stability to the Spanish company, which had been experiencing the impact of the global economic crisis since 2008. Incorporating the Spanish company within Selena Group enabled Selena increasing market share in the Iberian and international markets. With the process consolidated, purchasing conditions improved and shopping for raw materials for the entire Group, production costs have been reduced. Moreover, integrated R&D for Selena and Quilosa facilitates more effective marketing of product innovations.

Growth through acquisitions is one of the key elements in Selena’s strategy of development. In March 2010, Selena acquired 100% stake in one of the oldest bitumen materials’ producers in Poland – Matizol SA, producer of roofing felt and shingles from Gorlice. The company offers a wide range of roofing materials under Matizol brand and its annual sales amount to approx. PLN 60 m.

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