Cemex agrees to acquire Kiesel, a mortars and adhesives technological leader with more than 60 years of experience in the construction materials industry.
Cemex has agreed to acquire Kiesel, a mortars andadhesives technological leader in the construction industry based in Germany, as part of its ongoing strategy to strengthen Cemex’s Urbanization Solution business through bolt-on acquisitions aiming to contribute to the development of vibrant, resilient, and more sustainable cities.
“We remain committed to increasing our capacity to serve growing urban markets with more sustainable and innovative solutions,” said Sergio Menéndez, President of Cemex Europe, Middle East, Africa & Asia. “This acquisition will enhance our Urbanization Solutions business and allow us to serve our customers better.”
Kiesel is a trusted provider of building solutions with over 60 years of experience that serves the German, French, Polish, and Czech markets.
Keisel’s product portfolio includes a range of solutions to ensure efficient installation of all types of floors or wall coverings, as well as mortars for the installation of ceramic and natural stone tiles. Mortars are building materials that use cement to bond bricks and concrete blocks and to install different materials, such as tile and ceramic.
Mortars are vital for many construction projects, especially for renovating buildings and enhancing the energy efficiency of the built environment. Cemex already provides a variety of mortars in its markets around the world as part of its Urbanization Solutions business.
The closing of this acquisition is subject to the satisfaction of certain conditions, including consent from government agencies. Cemex expects to finalize this acquisition by the end of the fourth quarter of 2023 or soon thereafter.
Cemex’s bolt-on acquisition strategy and its Urbanization Solutions business have been strong growth drivers for the company. For the second quarter of 2023, the company reported EBITDA growth of 26% in its Urbanization Solutions business and an incremental EBITDA contribution of US$46 million from growth investments and Urbanization Solutions.
About Cemex
Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentlessinnovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com
