Global law firm DLA Piper advised James Hardie Industries plc (“James Hardie”) on the divestiture of its European operations to Holcim for EUR840 million.
The transaction forms part of James Hardie’s long-term strategy for highest growth and return opportunities. Under the agreement, Holcim, a Swiss global provider of high-value end-to-end building materials and solutions, will acquire the sustainable walling and flooring solutions business Fermacell in Europe, including the fermacell® and Aestuver® brands. Fermacell will strengthen Holcim’s building systems and modular construction offerings following completion of the transaction.
The transaction is expected to close in the first half of calendar year 2027, subject to customary closing conditions, including regulatory approvals and completion of applicable employee consultation processes (including with competent works councils). In addition, James Hardie intends to close its European fibre cement business following the completion of applicable legal, regulatory and employee consultation requirements, including consultation with competent works councils.
James Hardie, incorporated in Ireland, is an industry leader in exterior home and outdoor living solutions, with a portfolio that includes fiber cement, fiber gypsum, and composite and PVC decking, and railing products. The company operates across North America, Europe, Australia, and New Zealand.
Client relationship partner Andrew Weil comments: “We are pleased to have helped deliver an important step in the execution of James Hardie’s long-term strategic priorities.”
Client relationship partner Dr Benjamin Parameswaran adds: “This transaction is an important step in James Hardie’s ongoing portfolio optimization efforts. Working alongside the company’s management and legal teams on this matter has been a privilege.”
A global DLA Piper team, spanning Germany, Netherlands, Ireland, Australia and the US, was co-led by Partners Sebastian Decker, Counsel Sophie von Mandelsloh, as well as Partners Dr Benjamin Parameswaran and Andrew Weil. They were supported by Senior Associates Robert Fischer-Sonnberg and Lea Reifers (all Corporate) and partner Semin O (Lit&Reg) in the core team. The international team included Partners Jochem Beurskens, Sander Wiggers (both Corporate), Jean Paul Dresen (Tax), Matthew Cole (Corporate), Maura Dineen (Tax), David Ryan (Corporate), Brian Wohlberg (Corporate), Marc Horwitz (Finance), and Jamie Knox (Finance).
In Switzerland DLA Piper worked with Thouvenin Rechtsanwälte, led by Partner Thomas Loher.
James Hardie’s in-house team was led by Chris Russell, SVP, Head of Global Strategy, Corporate Development, together with Matthew Wells, Assistant General Counsel – Corporate & Securities and Tim Beastrom – Chief Legal Officer.
The current transaction builds on DLA Piper’s longstanding relationship with James Hardie. In 2017, a DLA Piper team led by partners Dr. Benjamin Parameswaran and Andrew Weil advised James Hardie on its acquisition of Fermacell. The transaction was structured through the acquisition of XI (DL) Holdings GmbH and its German and European subsidiaries, including Fermacell GmbH, from Xella International S.A.
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