Bustamante Fabara plays a crucial role in advising Saint-Gobain’s in a strategic alliance with Imptek Chova del Ecuador

QUITO, Ecuador — BUSTAMANTE FABARA is delighted to reveal its advisory role to Saint-Gobain, a forefront company in the sustainable and lightweight construction sector, during its strategic acquisition of a controlling interest in IMPTEK Chova del Ecuador. This significant acquisition signifies Saint-Gobain’s inaugural venture into manufacturing within Ecuador, showcasing a strategic expansion in the region.

Anticipated to receive regulatory approval in the first half of 2024, this acquisition by Saint-Gobain is a testament to its "Grow & Impact" strategy. This strategy is focused on bolstering the Group’s market leadership and propelling growth through the augmentation of its construction solutions portfolio. The deal was officially completed in February 2024.

Led by Partners Juan Felipe Bustamante and José Rafael Bustamante C., along with Director Kirina Gonzalez, Senior Associates Valentina Morillo, Gino Ivich, Andrea Egas, and Associates José Antonio Bustamante, Sebastián Eljuri, and Jerónimo Villagomez, the team at BUSTAMANTE FABARA was instrumental in navigating this landmark transaction towards a successful closure, pending the necessary regulatory consents.

Transaction Insights

IMPTEK CHOVA, a frontrunner in the Ecuadorian construction chemicals industry, is celebrated for its trailblazing waterproofing solutions. Projected to rake in revenues near €30m for 2023 and employing around 120 personnel, IMPTEK commands a significant presence in both local and international markets, including exports to various Latin and Central American countries.

This strategic acquisition aligns perfectly with Saint-Gobain’s "Grow & Impact" strategy, aiming to enhance its product offering with sustainable construction solutions while solidifying its global market leadership.

Deal Highlights

• Strategic Expansion: This acquisition marks Saint-Gobain’s initial manufacturing footprint in Ecuador, broadening its influence in the Latin American market.
• Economic Impact: With projected revenues of €30m and a strong foothold in both local and international markets, the IMPTEK acquisition is poised to make a substantial economic contribution.
• Employment Stability: The continuation of employment for IMPTEK’s roughly 120-strong workforce highlights the operational scale and the commitment to local employment.

About Saint-Gobain

Saint-Gobain stands as a global authority in sustainable construction, specializing in the creation, manufacture, and distribution of materials and solutions critical to the construction and industrial sectors. Dedicated to sustainability and excellence, Saint-Gobain achieved €51.2 billion in sales in 2022, with a workforce of 168,000 across 75 nations. The Group’s ambition for Carbon Neutrality by 2050 reinforces its mission to "MAKE THE WORLD A BETTER HOME.

About BUSTAMANTE FABARA

BUSTAMANTE FABARA is a renowned full-service law firm based in Ecuador. With a team of over 125 attorneys and a total staff exceeding 190 members, offering extensive and consistent legal solutions to both local and international clients across diverse industries. The Firm is consistently ranked by prestigious international agencies as one of the top firms in Ecuador and Latin America.

Advisors Chova del Ecuador

In-house counsel and Javier Silva.

Advisors Saint Gobain

Bustamante Fabara: José Rafael Bustamante (Partner), Kirina González (Director), Valentina Morillo (Senior Associate)

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