Press Release NAMCE - Globe Union
SALTILLO, MEXICO - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to NAMCE S. de R.L. de C.V., a ceramic sanitaryware manufacturer located in Saltillo, Mexico, on the sale of sanitaryware business to Globe Union Industrial Corporation (TPE: 9934), a global manufacturer of plumbing products sold into commercial and residential markets under the Gerber and Danze brands in North America. The acquisition provides future growth opportunities for Gerber branded products by increasing ceramic sanitaryware capacity in North America and diversifying the company's supply base. With this acquisition, Globe Union will continue to enhance the supply of high-quality ceramic sanitaryware products and reduce lead time as it provides an established, successful manufacturing plant closer to its core North American market. The transaction was announced in September 2019.
"Seale has remained active in advising multinational clients in the building products sector, and in particular the bathroom products segment, going on 20 years," said Brett Carmel, Senior Managing Director. "We originally advised Grupo Industrial Saltillo on the sale of their ceramic sanitaryware business to Villeroy & Boch in 2006. We later advised the shareholders of NAMCE on the acquisition of the Saltillo sanitaryware plant from Villeroy & Boch in 2011. Now, we are pleased to have had the opportunity to advise the shareholders of NAMCE on the sale of this sanitaryware plant to Globe Union. It is a rare privilege as an advisor to have had the opportunity to sell, acquire and sell again the same strategic production asset. We are honored to have earned the trust, confidence and respect of the key players in the sanitaryware industry."
Globe Union Industrial Corporation (TPE:9924), headquartered in Taichung, Taiwan, is one of the world's largest suppliers of plumbing products, including faucets, showerheads, bath accessories, porcelain fixtures and related hardware under various brand names, including Gerber and Danze in North America. Since 1932, Gerber Plumbing Fixtures has been a leading manufacturer of vitreous china plumbing fixtures, faucets, and fittings for the residential, commercial and hospitality construction markets in the United States and Canada. As of September 2019, the company had total LTM sales of approximately US$560 million (NTD$17.350 billion).
NAMCE S. de R.L. de C.V., headquartered in Saltillo, Mexico, manufactures, markets and distributes ceramic sanitaryware bathroom products.
Seale & Associates, Inc., 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 providing innovative ideas and solutions to address our clients' most complex dealings. For more information, please visit www.sealeassociates.com.