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Urenda Rencoret Orrego & Dorr has advised Aislantes Nacionales S.A., a major player in the Chilean tile adhesive and building materials market, in relation with the signing of the company’s sale agreement to Henkel AG & Company. The transaction closed on July.
Aislantes Nacionales S.A. was created through the merger of Bepolit and Aislantes Termofor in 1984. The Santiago-based company produces adhesives for the installation of ceramic coatings, finishing mortars for floors and walls, exterior finishes, adhesion bridges, elastic sealants and insulation systems. Last year, the company generated sales of €80m.
The transaction is aligned with Henkel's strategy to strengthen its portfolio through specific investments. "With the acquisition of Aislantes Nacionales S.A., we will enter with a solid position the attractive Chilean market of construction materials. Strong technologies and brands, as well as a well-positioned portfolio, will further strengthen our position in Latin America.” said Jan-Dirk Auris, executive vice-president and head of adhesive technologies business unit at Henkel.
Founded in 1876, Henkel is a German multinational company of chemical and consumer goods. The company’s organization is divided into three operating business units: laundry and home & care, beauty care and adhesive technologies.
The Urenda’s team was made up of partners Sergio Orrego and Rodrigo de Alencar, assisted by associates Isidora Zañartu and Peter Faille.
Latham Watkins and Claro y Cía have acted as legal counsel to the buyer.