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Tuesday, May 21, 2024

Garrigues, Fieldfisher advise on BMI´s acquisition of Asfaltos ChovA

Garrigues has advised Spain´s Asfaltos ChovA on its sale to Grupo BMI, advised by Fieldfisher. With this deal, the group expands its business in the waterproofing and insulation sector to strengthen its flat roof market in Spain

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BMI Group, a Standard Industries company, and Europe’s leading manufacturer of pitched and flat roofing and waterproofing solutions, has acquired the Spanish company ChovA, a specialist in efficient building solutions for waterproofing and thermal and acoustic insulation. With this acquisition BMI expands its business in the waterproofing and insulation sector to strengthen its flat roof market in Spain.

ChovA’s broad product offering includes asphalt membranes and thermal and acoustic insulation. The company was founded in the 1940s by the Chova family, who will remain involved in the business after the acquisition.

“We are very proud of what the ChovA team has achieved in these 77 years in the market,” said Eduardo and Antonio Chova. “Joining the BMI Group family is an excellent opportunity to grow and continue to provide our customers with the best service; the combination of the BMI and ChovA business brings an even broader offering of building solutions to customers in the Spanish market.”

“BMI and ChovA together will offer a complete portfolio of high-end solutions for both flat and pitched roofs,” added Carlos Hernandez, managing director of BMI Iberia and Italy. “Both companies will continue to provide excellent service and support architects, engineers and installers through their technical assistance services, from design to commissioning and training of installers.”

“Welcoming ChovA’s colleagues and their products and brands to BMI is a fantastic step forward for flat roofing solutions in Spain,” said Justin Skala, CEO of BMI Group. “We are companies that share similar values and a legacy of quality and expertise, and we are delighted to offer our customers new solutions with the addition of ChovA to the BMI family.”

The BMI Group was advised by Fieldfisher, while Garrigues advised ChovA.

Garrigues advised Asfaltos ChovA with a Valencia office team made of Commercial partner Francisco Soler, Commercial senior associate Fernando Navarro, Tax partners Carlos Peiró and Lorena Colomer along with Tax principal associate Ester García, Public Law senior associate Arantxa Forn, Labour senior associate Abel Gallego and IP senior associate Victoria Gigante.

Fieldfisher advised BMI with an M&A team formed by partner Paloma Mato Yllera, lawyer Javier Fuentes de Tienda and Junior lawyer Jaime Enguita Cuesta.

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