CASE STUDY: CEMEX
Cemex Divested its Concrete Pumping Assets
TARGET
Concrete Pumping Business
INDUSTRIES
Construction and Building Products
TRANSACTION TYPE
Corporate Divestiture
GEOGRAPHY
Monterrey, Mexico
SITUATION
Seale & Associates acted as exclusive financial advisor to CEMEX (BMV: CEMEX CPO) in the divestiture of its Concrete Pumping Business to Pumping Team.
The transaction value was US$109 million, including US$80 million at closing and an additional US$29 million in purchase price contingent on future performance targets.
OUTCOME
Seale managed a competitive auction process with potential strategic and financial buyers. Our disciplined approach allowed our client to maintain momentum and negotiating leverage throughout the process and ensure closing at a premium value and favorable terms.
The process resulted in the successful acquisition of CEMEX’s Concrete Pumping Business by Pumping Team, which will become the supplier of ready-mix concrete pumping to CEMEX and its customers in Mexico.
"We are pleased to have been able to represent CEMEX in this strategic divestiture of its concrete pumping business in Mexico.We wish the new owners of the Pumping Team and Nexxus Capital business every success.We look forward to maintaining a long-term win-win relationship in their business relationship with CEMEX."
Sergio García del Bosque
Managing Director at Seale & Associates
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