Divestiture • Building Materials

Broadview Acquires Formica

On December 17, 2018, Broadview acquired building materials company Formica from Fletcher Building for 840M USD

Acquisition Context
  • This is Broadview’s 1st transaction in the Building Materials sector.
  • This is Broadview’s largest (disclosed) transaction.
  • This is Broadview’s 1st transaction in the United States.
  • This is Broadview’s 1st transaction in Ohio.

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M&A Deal Summary

Date December 17, 2018
Target Formica
Sector Building Materials
Buyer(s) Broadview
Sellers(s) Fletcher Building
Deal Type Divestiture
Deal Value 840M USD

Target Company

Formica

Cincinnati, Ohio, United States
Formica Corp. is a producer of high-pressure decorative laminates. Formica was founded in 1913 and is based in Cincinnati, Ohio.
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Buyer Overview 1

Buyer

Broadview

Hertogenbosch, Netherlands

Category Company
Founded 2008
Sector Business Services
Employees6,104
DESCRIPTION

Broadview is an industrial holding company with a focus on materials technology and energy. Applications include façade cladding, furniture for home, office and laboratory as well as interiors for healthcare, retail and hospitality. Broadview is also active in the natural gas value chain through its subsidiaries in Norway, the Netherlands and Turkey. Main focus is on the growing category of small-scale distribution of liquefied natural gas (LNG) and related activities such as biogas upgrading and equipment manufacturing. Broadview was founded in 2008 and is based in Hertogenbosch, Netherlands.


Deal Context for Buyer #
Overall 1 of 2
Sector: Building Materials 1 of 1
Type: Divestiture 1 of 1
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2018 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-11 Direct Online Services

Quedgeley, United Kingdom

Direct Online Services Ltd. is an online retailer of solid wood kitchen worktops. The company sells its range of kitchen furniture through an array of individually branded retail websites and eBay shops. It owns a fleet of vehicles and showrooms throughout the UK. Direct Online Services was established in 2008 and is based in Quedgeley, United Kingdom.

Buy -

Seller Profile 1

SELLER

Fletcher Building

Auckland, New Zealand

Category Company
Founded 1909
Sector Building Materials
Employees12,500
Revenue 7.0B NZD (2025)
DESCRIPTION

Fletcher Building is a provider of building products, construction materials, and services worldwide. Fletcher Building was founded in 1909 and is based in Auckland, New Zealand.


Deal Context for Seller #
Overall 5 of 5
Sector: Building Materials 3 of 3
Type: Divestiture 4 of 4
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2018 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-01 Roof Tile Group

New Zealand

Roof Tile Group is a manufacturer of metal roofing tiles for global sales and distribution under a number of brand names, including Decra and Gerard.

Sell -