COLAS HAS SOLD ITS WATERPROOFING BUSINESS TO OPENGATE CAPITAL
Today, Colas completed the sale of Smac to a subsidiary of OpenGate Capital.
The disposal agreement was signed on February 13, 2019, and all the conditions
precedent, including approval by competition authorities, were lifted at the
beginning of May.
Based in Issy-les-Moulineaux, France, Smac is a global player in its markets
and provides waterproofing, sealing and cladding solutions through two
divisions, Smac Travaux and Smac Industrie.
With this sale and in the wake of the acquisitions of the Miller McAsphalt
Group and Alpiq Engineering Services' rail businesses in 2018, Colas is
refocusing on its strategic activities, transport infrastructure and materials.
The sale of Smac will not have a significant impact on Colas' operating profit.
With this acquisition by OpenGate Capital, Smac has now joined a global
portfolio of businesses which includes other industrial companies that provide
building materials and solutions.
About Colas (www.colas.com)
Colas, a subsidiary of the Bouygues Group, is a world leader whose mission is
to promote transport infrastructure solutions for sustainable mobility. With
58,000 employees in more than 50 countries on five continents, the Group
performs some 85,000 road construction and maintenance projects each year via
800 construction business units and 2,000 material production units. In 2018,
consolidated revenue at Colas totaled 13.2 billion euros (51% outside of
France). Net profit attributable to the Group amounted to 226 million euros.
About Smac (www.smac-sa.com)
One of the leading firms in waterproofing and facades, Smac operates in
Mainland France, the French overseas departments, Morocco (Sofima) and South
America (Reali). Backed by 3,400 employees and a network of 70 profit centers
in France, Smac performs more than 10,000 projects every year.
Specialized in building envelopes, Smac is recognized for its technical
expertise on architectural facades and waterproofing projects. As a global
player in the segment, it has created a dedicated service and maintenance
business, called Smac Assistance Service, in addition to Essemes Services for
fire safety maintenance. It also carries out energy renovation work on
buildings and photovoltaic installations.
In addition, Smac boasts industrial subsidiaries and plants: Axter (membranes),
Skydome (skylights), Resipoly /Eurosyntec (synthetic resins).
In 2018, the consolidated revenue of Smac amounted to 569 million euros.