Clearwater International advises CRH Group

Clearwater rådgiver

Clearwater International has advised CRH Group on the signing of an agreement with the majority shareholders of Samse, Dumont Investissement, giving CRH the option to become controlling shareholder in the future.

Firstly, this agreement results in a stronger partnership between Dumont Investissement, majority shareholder of Samse Group (with 50.41% of the capital) and CRH France Distribution, reference shareholder (with 21.13% of the capital) of Samse Group since 1996. Secondly, the agreement provides CRH with the option to become the majority shareholder of Samse Group in 2020.

The stronger future ties between the two groups, which have complementary distribution networks and activities, would create a new entity with a strong competitive position. It would become a major player in the French building materials distribution market, operating a proximity network of close to 400 branches.

As part of this operation, the two groups also agreed that the company Doras will become a 100% subsidiary of Samse Group, subject to the approval of the Competition Authority. By the end of the year CRH will dispose of its 45% stake in Doras, to Samse, which currently already owns 55%. Doras operates mainly in Burgundy and Franche-Comté and reported in 2013 a turnover of €238m with nearly 800 employees and 60 branches.

Listed in Dublin, London and New York, CRH Group (www.crh.com) is one of the worldwide leaders in building materials, with a presence in 35 countries on 4 continents and nearly 76,000 employees in 3,400 outlets. CRH Group reported a turnover of €18bn in 2013 and its subsidiary CRH Europe Distribution reported a turnover of €4bn in 2013, with nearly 700 branches and 12,000 employees. The company CRH France Distribution, which includes and develops French distribution business, generated a turnover of €212m in 2013, with nearly 600 employees in 53 branches in France, under two brands: Raboni (building materials distribution) and Busca (public works materials distribution).

Listed in NYSE Euronext Paris, Compartiment B, Samse Group (www.groupe-samse.fr) is the second largest French player in building materials distribution for construction and housing. The Group reported a turnover of €1.2bn in 2013, with nearly 5,000 employees in 337 branches. Present on two business segments, building materials distribution and DIY, the group offers its clients BtoB and BtoC complementary products through a network of more than twenty commercial trading names.

The Clearwater International team was led by Philippe Croppi.

“We are pleased with this agreement, which builds on our shareholding in Samse since 1996. We strengthen our partnership and prepare for the future with a possible link-up between the two groups, who have started to know, appreciate and respect each other: all the ingredients are here to form, over time, a solid structuring player and offering increased development potential for the men and women of our two companies and also for their business.”

Khaled Bachir, President of CRH France