We are acquiring Secil, unlocking a strategic opportunity for sustainable and diversified growth

• Secil, headquartered in Lisbon, is a leading company in building materials and construction solutions, with operations in eight markets and a strong footprint in Portugal. 

• We strengthen our presence in Europe, expand global footprint, diversify revenue, and accelerate sustainability roadmap.
  
• Strategic acquisition valued at €1,400 million to deliver immediate value and long-term growth.

We have reached an agreement with Portuguese investment group Semapa – Sociedade de Investimento e Gestão, SGPS, S.A. – to acquire 100% of Secil Companhia Geral de Cal e Cimento, S.A. (“Secil”). This transaction marks a major milestone in our profitable and sustainable growth strategy, reinforcing our presence in Europe and completing our geographic expansion in Latin America by entering Brazil, the only major market in the region where we were not yet present.

Headquartered in Lisbon, Secil is a renowned provider of building materials and construction solutions, operating in eight markets with an annual cement production capacity of c. 10 million tonnes. Its diversified business portfolio includes cement, concrete, aggregates, construction solutions, and circular economy. Secil employs over 2,900 professionals and reported sales of €740 million over the last twelve months. The company is recognized for its strong brand, innovation capabilities, and proven track record of growth and value creation.

The transaction is valued at €1,400 million and it is expected to be accretive from the first year, driven by significant synergy potential, strong profit contribution, and robust cash generation.

We will strengthen our presence in Europe, enter the Brazil market, expands our global footprint, diversify revenue, and reduce exposure to currency volatility. This acquisition also accelerates our sustainability roadmap by leveraging the combined technical expertise and innovation capabilities. Both companies share a strong commitment to decarbonization, with Secil’s targets aligned with the Science Based Targets initiative (SBTi).

Marcos Cela, our CEO, said: “This agreement is a key milestone in Molins’ strategy. Secil brings a solid international presence and a strong culture rooted in its family-owned industrial legacy, with values that we deeply share. Combining our strengths will allow us to grow with a more diversified and resilient profile, while reinforcing our commitment to sustainability. Together we will expand our offer of high-value, circular and low-carbon solutions for our customers, creating new opportunities for our people. I look forward to welcoming Secil’s 2,900 employees to Molins.”

Ricardo Pires, CEO of Semapa, added: “Secil is part of Semapa’s origins and will always hold a special place in our history. I would like to express my appreciation to the Secil team for their remarkable journey of growth and value creation over the past years. This transaction is a strategic step for the Group, enabling us to strengthen our ability to invest, innovate and accelerate the strategy we have been implementing. We are pleased to see Secil join a relevant building solution company with global presence and also owned by a family with a long-term vision, ensuring the company’s future development.”

Closing of the transaction

The Transaction is subject to customary conditions precedent and is expected to close in first quarter of 2026. We will finance the Transaction with a combination of available cash and funds from a syndicated credit agreement and a bond issuance.

We were supported by J.P. Morgan and KPMG as financial advisors, and by Uría Menéndez as legal counsel. Deloitte acted as the buy-side advisor for the financial, tax, legal and labour due diligence.