Acquisition of Heidelberger Kalksandstein

Carnegie acted as exclusive financial adviser to H+H International

Carnegie acted as exclusive financial adviser to H+H International (“H+H”) in the acquisition of Heidelberger Kalksandstein (“HDKS”).

HDKS produces and sells calcium silicate units (“CSU”) in the German and Swiss masonry market. HDKS is the market leader in Switzerland and holds a solid 2nd place in Germany. CSU is the predominant wall building material within the fast-growing residential high-rise segment, and the acquisition will, hence, strengthen the product portfolio and positioning of H+H. In addition, the integration of HDKS into the H+H group will create a much more balanced geographical exposure and serve as a platform for further market consolidation.

HDKS operates seven factories in Germany and one in Switzerland, from which the Company will generate revenue of approx. DKK 500m and EBITDA of approx. 100m in 2017. Prior to the acquisition, HDKS was a subsidiary of the listed German company, HeidelbergCement AG.

© Copyright Carnegie Investment Bank AB 2018. All rights reserved.