BMI Group

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BMI Group sarl
(Braas Monier Icopal)
legal form Société à responsabilité limitée (S.à.rl)
founding 2009
Seat Luxembourg
management Charles T. Dowling (USA), Henry Feuerstein (USA)
Number of employees 7922 (as of December 31, 2016)
sales 1.23 billion € (2016)
Branch Building materials
Website www.bmigroup.com

The BMI Group S.à.rl (Braas Monier Icopal), based in Luxembourg and headquarters in London, is a manufacturer and supplier of building materials for pitched roofs and roof accessories in Europe, some Asian markets as well as in South Africa. The Group's brands and products include roof tiles and tiles for pitched roofs, roof accessories for the various functional aspects of pitched roofs, ceramic and steel chimneys, and energy system solutions. The BMI Group's head office is in Luxembourg , the head office in London, the German administration ( Braas GmbH ) in Oberursel and the Swiss administration (BRAAS Schweiz AG) in Düdingen.

At the end of 2016, Braas Monier said it had 121 production sites in 36 countries. In 2016, the company generated a turnover of 1,236 million euros and 7,922 employees worked for the company. Braas Monier has been listed in the Prime Standard of the Frankfurt Stock Exchange since June 25, 2014 and was part of the SDAX between September 22, 2014 and February 2, 2017 .

Since April 2017, Braas Monier has been part of the US group Standard Industries (until January 2016: Building Materials Corporation of America (“BMCA”) ). Standard Industries led the business of Braas Monier together with that of Icopal, their European flat roof system business, under the new name "BMI Group" and moved the top management to London. In May 2017, the company withdrew from the stock market through a squeeze-out .

Brands and companies

Sales by region

Braas Monier had a turnover of 1,235.8 million euros in 2016. The regions accounted for:

region Share of sales (in percent)
Germany 27
Great Britain 12
France 10
Asia & Africa 9
Nordic-Baltic area 10
Italy 6th
Rest of Europe 26th

Brands

Redland Cambrian Slate Wildlife Park Visitor Center near Colchester, Essex, UK
The Grand Hyatt Hotel in Goa, India, with "Elabana" roof tiles from Monier India

The BMI Group is represented worldwide with the following product brands.

Braas
Braas is the brand for the markets in Germany, Poland, Russia, Switzerland and Turkey. The company's best-selling product, the Frankfurter Pfanne , is also marketed under the name Braas .

Bramac
Bramac (BMI Austria) is the brand for the Southeast European market. The company's headquarters are in Austria. Bramac is also represented in the Czech Republic, Hungary, Slovakia, Romania, Bulgaria, Slovenia, Serbia, Bosnia and Herzegovina and Croatia. Bramac has been fully owned by Braas Monier since 2011; previously Braas Monier and Wienerberger each held 50%.

Cobert In
2015, Braas Monier took over the market leader for roof tiles in Spain and Portugal. Cobert roof tiles are currently sold in more than 50 countries on five continents. The companies have seven production sites in Spain and Portugal.

Coverland Founded in 1949
under the name "Vereeniging Tiles Ltd.", Coverland emerged in 1976 from the merger of four roof tile manufacturers. The company has eight production facilities and three storage facilities in South Africa.

EverGuard TPO

Icopal

Monier
The Monier brand is used as a product brand in Belgium, Denmark, Estonia, Finland, France, Italy, Latvia, Lithuania, the Netherlands, Norway and Sweden as well as in China, Malaysia, India and Indonesia.

Redland
Redland was founded in the UK in 1919 and is the oldest brand within the Braas Monier Building Group. With the establishment of the foundation stone for the later Braas Monier Building Group was laid. Redland branded products are available in the UK and Ireland.

Schiedel
Schiedel is a manufacturer of chimneys and chimney systems based in Nussbach / Austria. The company was founded in Erbach near Ulm in 1946 and is represented in 19 European countries. Schiedel has been part of Braas Monier since 1990.

Siplast

Vedag

Villas
Villas Austria (BMI Austria) develops and produces professional roofing and sealing systems based on bitumen.

Wierer
Wierer is an umbrella brand in Italy. Braas Monier sells roof tiles and roof accessories under her name in Italy. Wierer was founded in 1963 in Kiens (South Tyrol); Monier Italy is also based there today.

Wolfin Bautechnik

Products

Product areas

Half-timbered house with Braas clay tiles “Granat 13” in the North Hessian municipality of Oberaula
Roof tiles Roof tiles made of concrete and roof tiles from clay for pitched roofs
Roof system parts and accessories Ridge and hip rolls, sarking membranes, roof passages, snow guard systems, gutters, roof valleys, skylights, roof connections, eaves, fastenings (storm, ridge, valley and ridge clips), connection aprons for in-roof solar systems and roof windows, insulation, solar thermal and photovoltaic systems
Sheathing for HVAC systems WrapTec is a new type of material for sheathing insulated heating, ventilation and air conditioning systems (HVAC)
Chimney, stove and ventilation systems Ceramic chimneys, stainless steel chimneys, fireplaces, ventilation systems

history

Origins

Rudolf H. Braas

The group's beginnings go back to 1919 when the “Redhill Tile Company” was founded in Great Britain. In November of the same year the production of the first roof tiles began until the company renamed itself in 1946 and from then on sold its products under the name "Redland Tiles". After an expansion phase between 1949 and 1951, in which Redland invested in South Africa, Australia and Malaysia, the majority stake in the German roof tile manufacturer Braas was acquired in 1954. Your company founder, Rudolf Heinrich Braas , had previously maintained close contacts with the British building materials manufacturer. In the same year, the company's main factory was built in Heusenstamm near Frankfurt am Main.

Frankfurt pan

Advertising poster for the Frankfurter Pfanne from the fifties

The Frankfurter Pfanne has been the most-produced Dachstein model in Germany since it was launched in 1954. The main components of the roof tile are sand, cement, water and color pigments based on iron oxide.

Braas gave a 30-year material guarantee on the Frankfurt pan in 1954, making it the first manufacturer in Germany to give a long-term guarantee on a building material. In 1958 the word and picture symbol “Frankfurter Pfanne” was entered in the patent office's drawing roll. Today there are six models of the Frankfurter Pan in 13 colors and two surfaces. It is sold in many countries.

Growth and acquisitions

In the early 1950s, Braas Monier expanded for the first time into non-European countries and opened up markets in South Africa, Australia and Malaysia. In the late 1960s, business activities were expanded to include Southeast Asia, Austria and, in the early 1970s, to other European countries. The market entries in Japan, Indonesia, Malaysia and the USA between 1973 and 1979 marked one of the company's strongest expansion phases. From 1993, other markets such as Scandinavia, the Baltic States, Poland and Russia followed. The group achieved an expansion of the global production network to more than 200 plants in 2001.

The group’s major acquisitions include the acquisition of Schiedel (1991) and Klöber. Braas Monier has held 100 percent of the shares in the Austrian company Bramac since 2011. At the beginning of January 2015, the group announced the takeover of the tile manufacturers Tejas Cobert (Spain) and CT Cobert Thelhas (Portugal). In 2015 and 2016, Braas Monier took over the leading manufacturer of roof tiles in Malaysia, Golden Clay Industries (GCI), the Italian roof tile manufacturer Ceprano Coperture and the Danish manufacturer of roof accessories JA Plastindustri.

Change of ownership

In 1996 the Redland Braas Building Group was created through the merger of the roofing activities of Redland and Braas. A year later, in 1997, a French cement manufacturer, Lafarge , took over Redland and established the Lafarge Roofing division.

In the summer of 2006 Lafarge began to focus more on its core activities. In February 2007, Lafarge completed the sale of a majority stake in Lafarge Roofing for € 2.4 billion, largely financed by debt, to private equity investor PAI partners . PAI partners then held a 65 percent stake in the company, Lafarge 35 percent. On January 1, 2008, the group changed its name from Lafarge Roofing to Monier.

In July 2009, as part of a debt restructuring, the takeover of the company by financial investors ( Apollo Management , TowerBrook and York Capital ), who had previously acquired loans to the company, became known. The company's profits had previously largely collapsed in the wake of the financial crisis, and the company was no longer able to service the debts it had taken on in the wake of its acquisition by PAI, leading to the need for a debt restructuring that allowed financial investors to take control of it To get capital. In 2013 the Monier Group was renamed the “Braas Monier Building Group”.

initial public offering

With the IPO of Braas Monier Building Group SA, the owners placed 15.47 million shares from their portfolio and 4.3 million new shares at a price of 24 euros on the capital market. The market capitalization at the IPO was around 940 million euros. The company was largely in free float due to the IPO, but the financial investors Apollo Management, TowerBrook and York Capital still held over 40% of the capital through a joint holding, Monier Holding. The initial listing took place on June 25, 2014 in the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

Takeover by Standard Industries, squeeze out

On September 15, 2016, the American building materials manufacturer Standard Industries Inc. announced a public takeover offer at EUR 25 per share and has already secured 40% of the capital, consisting of the former holdings of Monier Holding. The Board of Directors of Braas Monier rejected this offer on the grounds that 25 euros per share was a significant undervaluation of the company and its future prospects. In December 2016, Standard Industries obtained an injunction against the planned issue of bonus shares by Braas Monier, arguing that Braas Monier should not initiate such a defensive measure under the EU Takeover Directive . As a result, both parties agreed on an improved offer from Standard Industries, which the Braas Monier Board of Directors now unanimously recommended to its shareholders. The injunction was lifted on December 19th.

On April 3, 2017, the acquisition of the Braas Monier Building Group by Standard Industries was completed. In May 2017, the new majority owner excluded the remaining Braas Monier small shareholders in return for a settlement and immediately withdrew the shares from the Frankfurt Stock Exchange ( squeeze-out ). The company now operates together with Icopal, a European company for flat roof systems, under the name BMI Group .

Web links

Footnotes

  1. ^ Braas Monier Building Group SA Société anonyme. ASSEMBLEE GENERALE EXTRAORDINAIRE du 1 juin 2017 N ° 1246/17. In: Recueil Electronique des Sociétés et Associations Luxembourg. Retrieved September 27, 2019 .
  2. ^ BMI Group SA Société anonyme. ASSEMBLEE GENERALE EXTRAORDINAIRE du 28 juillet 2017 Numéro 44048. In: Recueil Electronique des Sociétés et Associations Luxembourg. Retrieved September 27, 2019 .
  3. ^ DGAP voting rights: Braas Monier Building Group SA (German). In: website financial news. ABC New Media AG, Zurich, accessed on September 27, 2019 .
  4. ↑ a b c d website of the company - facts & figures ( memento of the original from April 11, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed March 31, 2016 @1@ 2Template: Webachiv / IABot / www.braas-monier.com
  5. ↑ Standard Industries: EU allows takeover of Braas Monier . ( handelsblatt.com [accessed April 11, 2017]).
  6. ↑ GAF Announces the Acquisition of Icopal The combined company will be the largest manufacturer in the global roofing industry. In: Website GAF. GAF Materials LLC, accessed January 28, 2020 .
  7. ↑ Standard Industries Completes Acquisition of Braas Monier to Build World Leaders in Roofing Systems. In: Icopal website. Icopal GmbH, accessed on January 28, 2020 .
  8. ↑ bauforum.at
  9. ↑ rooftilescobert.com
  10. ↑ monier.co.za
  11. ↑ monier.co.uk
  12. ↑ wierer.it
  13. ↑ braas-monier.com
  14. ↑ aktiencheck.de
  15. ↑ das-baulexikon.de
  16. ↑ wirtschaftsblatt.at ( Memento from July 19, 2016 in the Internet Archive )
  17. ↑ baustoffmarkt-online.de
  18. ↑ realdeals.eu.com
  19. ↑ Prospectus IPO. BNP PARIS BAS ea, accessed September 2019 .
  20. ↑ boerse.ARD.de: Braas Monier start under issue price | Stock News | Börse Aktuell | boerse.ARD.de . In: boerse.ARD.de . ( ard.de [accessed on January 25, 2017]). Braas Monier start below issue price | Stock News | Börse Aktuell | boerse.ARD.de ( Memento of the original from January 25, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / boerse.ard.de
  21. ^ Standard Industries makes $ 2.1 billion offer for Braas Monier. Reuters, September 15, 2016, accessed September 16, 2016 .
  22. ↑ FAZ.net: How a brick manufacturer questions EU takeover rules , December 8, 2016
  23. ↑ Handelsblatt: Higher bid accepted - Braas Monier and Standard Industries reach agreement , December 19, 2016, accessed on December 19, 2016
  24. ↑ DGAP: Braas Monier Building Group SA: Implementation of capital increase from company funds and resolution on interim dividend , December 20, 2016, accessed on December 22, 2016
  25. ^ Attorney Martin Arendts: Squeeze-out at Braas Monier. Accessed September 2019 .
  26. ↑ Braas Monier is merged with Danish Icopal. In: Reuters Editorial. Retrieved April 11, 2017 .