KPMG acts as financial advisor to Molins in the acquisition of Portuguese company Secil

Molins has reached an agreement with the Portuguese investment group Semapa – Sociedade de Investimento e Gestão, SGPS, S.A. – to acquire 100% of Secil Companhia Geral de Cal e Cimento, S.A. (“Secil”), in a transaction valued at €1.4 billion. The deal represents a significant milestone in Molins’ strategy for profitable and sustainable growth, reinforcing its presence in Europe and completing its geographic expansion in Latin America with entry into Brazil, the only major market in the region where the group was not yet present.

KPMG Spain acted as financial advisor to Molins on the transaction through its M&A team, led by Francisco Boada Ros, with participation from Joan Corominas Ferrer, Lluís Planchat Calle, Fernando A., and Jan González Zanni.

Based in Lisbon, Secil is a leading company in construction materials and solutions, operating in eight markets with an annual cement production capacity of approximately 10 million tonnes. Its diversified business portfolio includes cement, concrete, aggregates, construction solutions, and circular economy initiatives. The company employs over 2,900 professionals and recorded sales of €740 million over the past twelve months. Secil is recognized for the strength of its brand, its innovation capabilities, and a solid track record of growth and value creation.

The transaction is expected to provide an immediate and sustained contribution to Molins’ results from the first year, supported by significant synergy potential, strong cash generation, and an improved financial profile. The acquisition will enable Molins to expand its global footprint, diversify revenue sources, and reduce exposure to currency volatility.

The deal also strengthens Molins’ sustainability strategy by leveraging the technical and innovation capabilities of both companies. Molins and Secil share a strong commitment to decarbonization, with Secil’s objectives aligned with the Science Based Targets initiative (SBTi).

Statements

Marcos Cela, CEO of Molins, stated: "This agreement is a key milestone in Molins’ strategy. Secil brings a solid international presence and a strong culture rooted in its family-owned industrial legacy, with values that we deeply share. Combining our strengths will allow us to grow with a more diversified and resilient profile, while reinforcing our commitment to sustainability. Together we will expand our offer of high-value, circular and low-carbon solutions for our customers, creating new opportunities for our people. I look forward to welcoming Secil’s 2,900 employees to Molins.”

Ricardo Pires, CEO of Semapa, commented: “Secil is part of Semapa’s origins and will always hold a special place in our history. I would like to express my appreciation to the Secil team for their remarkable journey of growth and value creation over the past years. This transaction is a strategic step for the Group, enabling us to strengthen our ability to invest, innovate and accelerate the strategy we have been implementing. We are pleased to see Secil join a relevant building solution company with global presence and also owned by a family with a long-term vision, ensuring the company’s future development.”

Transaction closing

The transaction is subject to the satisfaction of customary closing conditions and is expected to be completed in the first quarter of 2026. Molins will finance the acquisition through a combination of available cash and funds from a syndicated loan and bond issuance.

Molins has been advised financially by J.P. Morgan and KPMG, and legally by Uría Menéndez. Deloitte acted as the buyer’s advisor for financial, tax, legal, and labor due diligence.