This deal complements BME’s geographical coverage, entering in the attractive Spanish market
BME Group announces 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 centers 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 welcoming the Grupo BMV employees to our group”.
Financial details of the transaction will not be disclosed.
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