Saint-Gobain gains Drymix

Paris-headquartered construction materials manufacturer Saint-Gobain has acquired United Paints and Chemicals (commonly known as Drymix), a ready-mix mortars company serving the Egyptian construction industry.

Cairo-based Barakat, Maher & Partners, an associate of international law firm Clyde & Co, acted for Saint-Gobain on its 100% acquisition of Drymix’s equity. The consideration for the deal was not reported.  

Jointly owned by Cairo-headquartered engineering and construction contractor Orascom Construction along with the high-profile Moussa family, Drymix was founded in 1997, and has 185 employees. Its name has become a byword in the north-east African country for prepared mortar mixes, which it manufactures at a site some 45 km outside Cairo. Its product range extends beyond ready-mix mortar to the provision of associated services and training to local tradespeople.

Saint-Gobain entered Egypt in 2006, where it currently operates seven manufacturing facilities employing 575 people. The acquisition will grow Saint-Gobain’s business by expanding its portfolio of construction chemicals, glass and gypsum products, and comes in the wake of the establishment of a technical mortars manufacturing facility in Egypt earlier this year, along with acquisition of IDP Chemicals.

Barakat, Maher & Partners used a team headed by partners Mohamed Barakat and Sameh Dahroug with assistance from senior associate Moataz El Sherbini.