Providence Capital, through its managing partner Pablo D’Agliano, has served as financial counsel to Empresas Busel, in the sale of a controlling stake to NMC, a leading synthetic foams company. The deal creates a leading importer and distributor of interior and exterior design synthetic foam-based profiles for the construction and home improvement industries in Chile. The agreement was announced November 7th.
“NMC and Empresas Busel have been business partners for many years and have together developed the market for interior decoration elements in Chile. Bundling forces in a joint venture is a logical step and will allow us to further strengthen cooperation in order to seize existing and generate new opportunities in the Chilean and Latin American markets. Combining our talents and competence, we are beginning a new chapter in our confirmed partnership with Roberto and his team. We warmly welcome everybody as part of the NMC group”, said Hubert Bosten, CEO of NMC.
This transaction represents NMC’s entry into the LatAm market, after 20 years of commercial collaboration with Busel, and sees them become part of a holding company with 16 production centers and a presence in 15 countries.
Roberto Busel, owner of Empresas Busel will remain as shareholder and will act as president of the joint venture.