Fidal and Luther are advising the acquirer, Aldebaran, on the acquisition of PAM Building, the European leader in sustainable cast iron for the construction industry, from Saint-Gobain. Alongside Aldebaran, Bpifrance is co-purchaser of PAM Building.
PAM Building designs, manufactures and supplies cast-iron sanitary and rainwater drainage systems for buildings. With around 400 employees and 2 production plants, in Bayard (Haute-Marne, France) and Telford (UK), PAM Building generated revenues of €110 million in 2023. The company is the European leader in its market, with strong positions in France, the UK and Germany, as well as a commercial presence in nearly 50 countries worldwide.
Amélie Brossier, founder of Aldebaran: “We are proud to support the PAM Building teams in the future development of the group. Our plan is to strengthen the company’s innovative capabilities and international reach, positioning it as a major player in sustainable cast iron. To this end, we will be implementing an ambitious decarbonisation plan, switching to an electric furnace at Bayard, to significantly reduce its environmental footprint.”
unyer is advising the buyer Aldebaran on the corporate, environmental and labor due diligence aspects of the transaction. The Fidal team includes Anne Fréchette-Kerbrat, Vincent Poulain, Lorraine Raimbert-Nusse, Hélène Leung, Thibaut Geib and Ghislain Loiseau. The Luther team includes Dr. Thomas Kuhnle, Rares Holonec, Marco Dauner, Dr. Andreas Kloyer, Dr. Thorsten Becker, Lida Karra, Dr. Astrid Schnabel, Amelie Raepple and Fabien Benjamin Wehner.
This new investment is emblematic of Aldebaran’s commitment to supporting French industrial champions in the regions. It also illustrates the Aldebaran team’s expertise in carrying out complex carve-outs for major groups. This acquisition of a majority interest is accompanied by Bpifrance’s participation as co-investor.
The deal remains subject to the usual conditions for this type of transaction and should be finalised by the end of 2024.