SEALE & ASSOCIATES ADVISES ON THE SALE OF VITROMEX TO MOHAWK INDUSTRIES
Seale & Associates, Inc. announced that it acted as exclusive financial advisor to Grupo Industrial Saltillo, S.A.B. de C.V. (“GIS”) (BMW: GISSAA), a leading Mexican company that designs, manufactures, and wholesales products for the automotive, construction and houseware industries, on the sale of its ceramic tile business Vitromex, a leading Mexican company dedicated to the manufacture of ceramic and porcelain tile floors and walls, to Mohawk Industries, Inc. (NYSE: MHK), an American flooring manufacturer. The transaction is subject to regulatory approvals applicable to this type of transaction.
The agreement includes the sale of all the shares of Vitromex USA, Inc. and Manufacturas Vitromex, S.A. de C.V., to Mohawk and its subsidiary in Mexico, Daltile Mexico Comercial S de R.L. de C.V.
“For Vitromex, this transaction represents the opportunity to join one of the world's leading players in the ceramic industry, which will accelerate business development and production capacity expansion plans,” said Manuel Rivera, CEO of GIS.
“Seale & Associates was instrumental in helping us reach a successful agreement for GIS…The team’s professionalism, integrity and dedication to the project were key for taking care of all the important details involved in a transaction,” - said Armando Chapa, Planning and Administration director at GIS.
“We are pleased to have had the opportunity to advise GIS on the sale of Vitromex. Our continued success is a testament to having earned the trust, confidence, and respect of the key players in the building products industry. We continue to build a considerable track record of successfully advising multinational clients in the building products sector,” said Brett Carmel, Senior Managing Director at Seale & Associates.
“XX.” said Sergio Garcia del Bosque, Managing Director at Seale & Associates.
About Grupo Industrial Saltillo. GIS is a Mexican company that designs, manufactures, and wholesales products for the automotive, construction, and houseware industries. With a presence in seven countries on three continents, their brand portfolio includes brands such as Draxton, Vitromex, Cinsa, and Santa Anita. Learn more at www.gis.com.mx/en/.
About Vitromex. Vitromex is a company dedicated to the manufacture of ceramic and porcelain tile floors and walls, with consolidated brands in the market such as Vitromex, Arko, and Artemis; Vitromex has four plants strategically located in the Mexican Republic. In addition, in the United States, they have a Customer Service Center in San Antonio, Texas, and a Distribution Center located in Laredo, Texas. Learn more at www.vitromex.com.mx.
About Mohawk Industries. Mohawk Industries is a leading global flooring manufacturer that creates products to enhance residential and commercial spaces worldwide. Their portfolio includes American Olean, Daltile, Durkan, Eliane, Feltex, Godfrey Hirst, IVC, Karastan, Marazzi, Mohawk, Mohawk Group, Pergo, Quick-Step, and Unilin. During the past decade, Mohawk has transformed its business from an American carpet manufacturer into the world’s largest flooring company with operations around the globe. Learn more at www.mohawkind.com.
About Seale & Associates. 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 presenting innovative ideas and solutions to address our clients’ most complex dealings. For more information, please visit www.sealeassociates.com.