Paris, September 11th, 2024 - Aldebaran Capital Partners, an independent management company dedicated to the complex transformation of small-and-mid-sized companies in France, together with Bpifrance, have entered into exclusive negotiations with Saint-Gobain for the acquisition of PAM Building.
PAM Building designs, manufactures, and supplies cast iron drainage systems for residential and commercial buildings. With around 400 employees and two production sites in Bayard (Haute-Marne, France) and Telford (United Kingdom), PAM Building generated €110 million in revenue in 2023. The company is a European leader in its market, with strong positions in France, the UK, and Germany, and a commercial presence in nearly 50 countries worldwide.
Amélie Brossier, Founder of Aldebaran, stated: “We are proud to support the PAM Building teams in the future development of the group. Our project aims to enhance the company's innovation capabilities and international presence, positioning it as a major player in sustainable cast iron. To this end, we will implement an ambitious decarbonization plan, with the transition to an electric furnace at the Bayard site, significantly reducing its environmental footprint.”
This new investment is emblematic of Aldebaran's commitment to supporting French industrial champions. It also demonstrates the Aldebaran team's expertise in executing complex carve-outs from large corporate groups.
This majority stake acquisition is carried out in collaboration with Bpifrance as a co-investor.
Elyssa Maufras du Châtellier, Investment Director at Bpifrance, commented: “We are very pleased to support PAM Building in this new stage of its development. The management's business plan, driven by a strong ambition and strategic vision for a decarbonized industry, aligns perfectly with Bpifrance's commitment to supporting French industry and its international growth.”
Eric Escalettes, President of PAM Building, stated: “The arrival of Aldebaran and Bpifrance as shareholders is a unique opportunity to carry on PAM Building's industrial journey, which began over 150 years ago in Haute-Marne. We are very pleased to find in Aldebaran an ambitious partner who will enable us to tackle the challenges ahead while being mindful of the industrial dynamism of the region.”
The proposed transaction is still subject to the usual conditions for this type of operation and is expected to be finalized by the end of 2024.
