Saint-Gobain has expanded its presence in Mexico and Central America following its acquisition of Ovniver Group, a Mexico-based construction chemical supplier. The acquisition totals $815 million and will be financed in cash.

According to officials, the rationale behind the acquisition centers on strengthening Saint-Gobain’s presence in Central America and merging with a regional leader known for profitable growth.

“It is an excellent opportunity for Saint-Gobain to reinforce its presence in construction chemicals further and strengthen its presence in high-growth markets,” says Benoit Bazin, chairperson and CEO of Saint-Gobain. “I am impressed with Ovniver Group’s leadership, strategy and outstanding growth development, as well as the team’s track record of excellent execution. Combining the two groups will boost the rapid expansion of our profitable growth platform in construction chemicals.”

Ovniver has 16 manufacturing plants and around 1,000 employees. It offers a variety of solutions for commercial and residential construction markets, including façade coatings, tile adhesives, waterproofing and surface preparation mortars. With the acquisition, Saint-Gobain can now offer a wide range of exterior and interior solutions throughout Mexico, including glazing, façade coatings, glass wool insulation, fireproofing, waterproofing and more.

Saint-Gobain officials expect Ovniver to generate annual revenue of $285 million. The company will be consolidated into Saint-Gobain’s Americas Region. Following the acquisition, Saint-Gobain expects combined sales of about $7.16 billion.