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C.W. Downer & Co. berät USG Corporation bei Verkauf des Europageschäfts an Knauf

By on August 10, 2012

USG Signs Definitive Agreement for Sale to Knauf Affiliates

C.W. Downer & Co.,a leading global middle-market investment bank, is pleased to announce that USG Corporation (NYSE:USG) has signed a definitive agreement to sell its wholly-owned European business operations to affiliates of Gebr. Knauf Verwaltungsgesellschaft KG. The deal is valued at approximately $80.0 million subject to adjustment based on levels of working capital and net debt at closing. The closing is subject to receiving the necessary governmental approvals and other customary closing conditions.
Founded in 1901 and based in Chicago, IL, USG Corporation is a multi-billion dollar manufacturer and distributor of high-performance building materials. The company supplies commercial, residential and repair and remodel construction markets worldwide through subsidiaries such as United States Gypsum Company, USG Interiors, LLC and L&W Supply Corporation. The businesses being sold to Knauf consist of the operations responsible for the manufacture and distribution of ceiling grid and ready-mix finishing compounds throughout Europe, Russia and Turkey.
Knauf is a global producer of gypsum materials for residential, commercial and industrial buildings in more than 40 countries. Products include plasterboard, mineral fiber acoustic board, dry mortar, and insulation materials. The company is headquartered in Iphofen, Germany.
“There was very strong interest in the business from both strategic and private equity buyers,” said Mike Howell, Managing Director & Partner with C.W. Downer & Co. “The process was highly competitive and our ability to engage with a global buyer universe was a key to achieving a successful outcome,” added Frank Merkel, Managing Director & Partner with C.W. Downer & Co.
The C.W. Downer & Co. team assisting USG with this divestiture included Mr. Howell (Managing Director & Partner, Boston), Mr. Merkel (Managing Director & Partner, Frankfurt), Michaela Wieser (Vice President, Frankfurt), Christian Lang (Associate, Frankfurt), Leandros Bebos (Analyst, Frankfurt) and John Higelin (Analyst, Boston).
About C.W. Downer & Co.

C.W. Downer & Co. is an independent, global investment bank offering its clients a high level of personal attention coupled with 35 years of international execution experience. With nine fully integrated offices on four continents, we consistently identify the most appropriate buyers worldwide and uncover „hidden“ acquisition targets. C.W. Downer & Co. combines the global reach of a bulge-bracket investment bank with the personal touch of a boutique.

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