Press Release CEMEX Pumping
MONTERREY, MEXICO - Seale & Associates, Inc. ("Seale") announced that earlier this year it acted as exclusive financial advisor to CEMEX, S.A.B. de C.V. ("CEMEX"), a global building materials company, on the divestiture of its concrete pumping assets in Mexico, which includes over 500 pumping units as well as other related assets, to Pumping Team, S.L.L. ("Pumping Team"). Pumping Team, a Spanish-based company that specializes in providing pumping services, will become the supplier of ready-mix concrete pumping to CEMEX and its customers in Mexico. The announced transaction price was US$109 million, including US$80 million at closing and an additional US$29 million in purchase price contingent on future performance targets.
CEMEX is a global building materials company that provides high quality products and reliable service to customers and communities in more than 50 countries. CEMEX is one of the leading cement manufacturers in the world with annual sales of US$13.4 billion and close to 41,000 employees worldwide. CEMEX's shares are traded on the Mexican stock exchange in the form of Ordinary Participation Certificates, or CPOs, under the ticker CEMEX.CPO and on the New York Stock Exchange in the form of American Depositary Shares, or ADSs, under the ticker CX. CEMEX Celebrating its 110th anniversary, CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future.
Pumping Team is a concrete pumping services holding company with operations in Mexico and Spain. Pumping Team's acquisition was supported by private equity investments from Nexxus Capital in Mexico and MCH Private Equity in Spain, as well as the shareholders of Pumping Team S.L.L. who will be the operating partners of the company.
Seale & Associates, headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.