Saint-Gobain expands global presence in construction chemicals sector with $1 billion acquisition of FOSROC
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Compass Lexecon supported building materials manufacturer Saint-Gobain during merger proceedings related to the $1 billion acquisition of FOSROC, a Dubai-based player in the construction chemicals sector. The transaction was reviewed by multiple competition authorities globally. The Parties completed the deal in February 2025.
Situation
In order to bolster its construction chemicals sector globally, French construction materials company Saint-Gobain entered into an agreement to acquire FOSROC in June 2024. FOSROC has a particular strong footprint in India, the Middle East and Asia-Pacific, where it owns 20 manufacturing plants for construction chemicals, including admixtures and additives for concrete and cement, as well as adhesives, sealants, waterproofing, concrete repair and flooring solutions. Compass Lexecon provided Saint-Gobain with economic assistance with merger reviews in multiple jurisdictions.
Our Role
Compass Lexecon provided economic advice on the competitive effects of the transaction, which was investigated and cleared by national competition authorities worldwide. We assisted with the merger filings and responded to information requests from these authorities, including questions related to local area overlaps, market shares, and closeness of competition.
Outcome
Our multi-jurisdictional team ensured efficient exchanges with the various competition authorities reviewing the merger. The Parties closed the transaction in February 2025.
The team
The Compass Lexecon team, managed by Kirsten Edwards-Warren and Rameet Sangha, included Orjan Sandewall, Jin Kiat Tan, Mara Siegesmund, Adrian Sjahid, Pietro Aletti, Noorah Alfaris, Sebastian Veijola, Jiangyu Wei, Chris Marshall, Niels Mulder, and Finn Spratt.
They worked with Saint Gobain’s external counsel from Freshfields led by Martin McElwee and Frank Röhling, with support of Justin Chen, Victoria Delettre, Helena Haag, Sarah Mitchell, and Leonie Sage.