Multi-law firm advice on BME Group´s acquisition of Grupo BMV
PwC T&L, Deloitte Legal, Clifford Chance and Baker McKenzie have advised on BME Group´s acquisition of Grupo BMV to accelerate its growth in South of Europe
BME Group has announced that it has reached an agreement, subject to customary competition and foreign investment clearances, to acquire Grupo BMV, a market leading supplier of interior finishing building materials with 36 distribution centres across Spain.
With this acquisition, BME Group’s geographical coverage will expand with a strategic foothold in the Spanish market, enabling continued innovation and further market consolidation across its operations.
Since the investment in Grupo BMV in 2019 of international Private Equity Fund “Abac Solutions”, the company has reached industry-leading standards of management, sustainability, processes, quality, and profitability which helped consolidating the company’s leadership in the Spanish market. Grupo BMV employs approximately 375 people. The current management team, led by CEO Josep Suriñach, will continue to lead the business following the acquisition.
Remco Teulings, Group CEO of BME, said: “This acquisition of Grupo BMV marks an important milestone in the journey of our company with the entry into a new, attractive growth market. It also provides further balance to our already diversified geographic footprint. We believe that Grupo BMV – with its brands Isolana, La Especialista, Isopractor and La Instaladora – is well-positioned to further expand its leading position under the leadership of Josep Suriñach and his team. We very much look forward to welcoming the Grupo BMV employees to our group.”
Financial details of the transaction will not be disclosed.
On this deal, which is subject to the usual regulatory approvals, Abac was advised by Rothschild & Co (M&A), Baker McKenzie (contracts), Attalea (sustainability) and Deloitte (Financial, Legal, Tax and Labour Due Diligence). Grupo BME was advised by Clifford Chance (Due diligence and Legal and Labour contracts) and PwC (Financial and Tax Due Diligence).
PwC Tax & Legal advised Grupo BME with a Private Equity/M&A team formed by director Christian Vegara (pictured top left), together with manager Bernat Riera, and senior associate Sergi Aguilar.
Deloitte Legal advised Abac with a team led by Commercial partner Cloe Barnils (pictured top right) that included senior associate Borja Santamaría, junior associates Roman Cantin and Tamara Gutiérrez.
Baker McKenzie acted for Abac with an M&A/Private Equity team formed by partners Juanjo Corral (pictured bottom left) and Luis Casals (pictured bottom right), along with senior associate Javier Méndez and associate Alejandro Parra.