Swiss Holcim Acquires Fermacell for €840 Million, Completed in 2027

en.Wedoany.com Reported - Holcim has agreed to acquire Fermacell, the European wall and flooring business, from James Hardie Industries for €840 million to expand its portfolio of high-value building solutions.

Fermacell is expected to generate net sales of approximately €430 million in 2026, operating six production sites across 13 European markets. The Düsseldorf-based company, with over 1,000 employees, produces high-performance fiber gypsum boards and cement-bonded boards under the fermacell and Aestuver brands.

Holcim stated that the acquisition will expand its wall, flooring, and fire protection product offerings in Europe, complementing its existing Ytong, Silka, Hebel, and Multipor brands. CEO Miljan Gutovic noted that the transaction will also support the company's integrated building systems and modular construction businesses, aligning with the NextGen Growth 2030 strategy. He said fermacell and Aestuver will broaden Holcim's integrated building systems and modular construction product lines.

In terms of financial expectations, Holcim anticipates generating approximately €22 million in annualized EBITDA synergies by the third year after closing. The €840 million transaction price corresponds to a 2027 estimated EBITDA multiple of 9.5x, which decreases to 7.6x once synergies are realized. Holcim also expects the acquisition to be accretive to earnings per share in the first year.

James Hardie stated that the divestment is part of its portfolio strategy reshaping, aimed at concentrating resources on the fastest-growing, highest-return opportunities. The company also plans to close its standalone European fiber cement business, subject to legal, regulatory, and employee consultation processes. James Hardie CEO Aaron Erter said that divesting the European business and the planned closure of the European fiber cement operations will allow the company to focus on its highest-growth and highest-return opportunities and is expected to strengthen its balance sheet.

Following the completion of the transaction, Fermacell will continue to be led by CEO Christian Claus. Claus stated that Holcim is a strong strategic fit for Fermacell's business, and customers will continue to receive high quality and excellent service; leveraging Holcim's global reach and complementary capabilities, Fermacell will ensure a smooth transition and accelerate growth.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to be completed in the first half of 2027.