Kerakoll acquires PAC Technologies in Dubai (UAE) to accelerate growth inMEA & GCC Region

KERAKOLL, a B Corp certified Benefit Company operating internationally in the construction sector, has announced the completion of an agreement leading to the acquisition of 100% of the share capital of PAC Technologies LLC (‘PAC’), based in Dubai – United Arab Emirates.

The agreement has been signed with International Development Company LLC, PAC Technologies LTD BVI and Michel Edmond Nachef (‘the Sellers’).

PAC is a Dubai-based company specialised in the development, production and sale of cement grinding aids, concrete admixtures and construction chemicals, as well as powder-base and liquid-base construction materials, founded in 2007 by Michel Edmond Nachef, says the company. PAC currently manages one production plant located in Dubai Industrial City, which supplies the UAE and other countries in the region. PAC products and systems are said to be used in many high-end projects and have a big list of professionals’ approvals and job references.

‘This acquisition represents another bold step forward for Kerakoll in the region,’ emphasised Saed Mattar, regional director MEA & GCC at Kerakoll Group. The purpose of the transaction is to integrate PAC’s people, production plant and know-how to manufacture Kerakoll brand products locally and accelerate Kerakoll Group development plan in the area.’

The Kerakoll production localisation will allow the combined local organisation to expand business opportunities for its current and future customers and will enhance the level of service to the market. Kerakoll and PAC intend to leverage the company’s know-how and expertise; as a matter of fact, developing the potential of the current employees’ base will be a key strategic pillar of the transaction, says the company.

‘The acquisition of PAC marks a progress in Kerakoll internationalisation trajectory’ said Fabio Sghedoni, vice president of Kerakoll Group. ‘Middle East is a region that offers important opportunities with a robust demand of high-end solutions: with this new footprint we’re now well equipped to satisfy the market needs. I’m delighted to welcome Michel and everyone at PAC to Kerakoll Group. I firmly believe that together we can become a leading player in the Region.’

Marco Zini, group CEO of Kerakoll commented: ‘With this strategic acquisition, our Group continues to invest in our international footprint. After a first phase whereby, we operated with a commercial branch, Kerakoll Gulf, we’re now ready to scale-up our presence in the region to bring to the market our sustainable innovation in products, new technologies and our excellence in service. The acquisition of PAC represents the perfect step toward achieving our goals in the region.’

Kerakoll was assisted in the transaction by BonelliErede as legal advisor, by KPMG for the financial and tax due diligence, and by TAUW for EDD and ESG due diligence, says the company.

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