Selena bids for Grupo IGM, a maker of sandwich panels

Selena FM S.A. has signed a conditional share purchase agreement to acquire 100% of the shares in Grupo IGM, a Portuguese holding company that produces and distributes sandwich panels.

This deal will take implemented in stages, greatly expanding Selena's product offering and strengthening its presence in the Iberian markets. This acquisition is also a significant step towards implementing the Selena Group's corporate expansion plan, which is centred on mergers and acquisitions, notably in the thermal insulation segment, and is currently a leading development trend in the local and worldwide construction industries.

Selena reached a deal with Grupo IGM's stockholders subject to certain requirements. Its finalisation will be contingent on the fulfilment of several preconditions, including securing the Portuguese antitrust authority's authorisation and a positive conclusion of due diligence.

Selena FM S.A. plans to acquire Grupo IGM shares in stages. Selena will purchase 66% of the shares in the first stage, followed by the remaining 34% in the second stage. Finally, after all of the agreement's preconditions are met, Selena FM S.A. will purchase 100% of the shares in Grupo IGM.

Grupo IGM is a dynamically developing capital group that manufactures, distributes, and sells isothermal solutions for roofs and facades, specifically sandwich panels, metal profiles, and related finishing elements, primarily for the residential and industrial construction industries. Because of its own production facilities in Portugal, the company has a double-digit share of the domestic sandwich panel industry, and its products are also available in Spain and certain export markets. In 2024, the IGM Group's sales were €66.5 million.

The Selena Group's acquisition of the Portuguese company will allow it to dramatically extend its offering with a new product while also responding to growing market demand for high-quality, innovative thermal insulation solutions.

The Company's Management Board will make separate announcements on the transaction's completion and the fulfilment of the conditions precedent.

Source: PU Magazine