Industrias Quimicas Löwenberg (Quilosa) specialises in the manufacture and distribution of chemistry products for building and industry. The company has been operating since 1940 and is one of the leaders in the Iberian market of sealants and adhesives, which are produced in a factory located in Guadalajara, Spain. The company is also involved in exports, which accounts for 25% of its revenues. The strong market position of its Quilosa brand is a significant contributor to the company's competitive edge. For 2009, the company expects to achieve sales of over EUR 30 m.
The purpose of taking over the majority of shares in Quilosa is to give the Selena Group and Quilosa a stronger foothold in Europe and increase their share in the European market. Quilosa, with its more than 60 years track record in the manufacture of sealants and adhesives, will allow Selena to expand its product offering and will give it competitive edge as a supplier of products for the industrial sector. Additional opportunities also arise from the extensive distribution network of Quilosa, covering mostly the Iberian peninsula region. Industrias Quimicas Löwenberg has many industrial and retail buyers, including DIY chains. Thanks to economies of scale, production costs are expected to fall, and so are the prices of raw materials purchased by the whole Selena Group. Selena’s investment will also be beneficial for Quilosa. All the funds raised in the deal were used to increase the share capital of the company, which will significantly improve its competitive position and will open the way for further expansion into the Iberian Peninsula and worldwide. Owing to the access to Selena distribution network, Quilosa will be offered an excellent opportunity for expanding the sales of its products in central and Eastern Europe.
“Both the sales network and the product range of Quilosa and Selena are to a large extent complementary. Until now each company operated in a different geographical market. This is why this investment will create synergies in many areas and will contribute to the development of distribution, transfer of technologies, product portfolio expansion and purchasing optimisation in both companies. I believe that the Spanish market has already gone through its most difficult times and a gradual recovery can be expected. As the market is distributed and smaller players are hit by the global crisis, consolidation processes are inevitable. For this reason this is a very good time to combine our strengths - said Krzysztof Domarecki, the CEO of Selena FM SA, the Group's parent company. The acquisition of a controlling stake in Industrias Quimicas Löwenberg is another step in delivery of the Selena Group’s development strategy. In April 2009, Selena Co. acquired 100% stake in Kvadro, Russian distributor of polyurethane foams and sealants. Last year, the company acquired 85% stake in the Turkish company Polyfoam Yalitim Sanayi ve Tic Ltd., producer and distributor of polyurethane foam for the installation of windows and doors.
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