Compagnie de Saint-Gobain S.A. (ENXTPA:SGO) has entered into a definitive agreement to acquire Bailey-Hunt Limited for CAD 880 million on April 3, 2024. The acquisition will be fully financed in cash. Closing of the transaction is subject to customary conditions and expected in the second half of 2024.

Bailey is a leading player in metal framing in Canada with CAD 532 million of sales in the country and 17.2% EBITDA margin in 2023. The purchase price represents a multiple (before synergies) of approximately 9.6x Bailey's2023 EBITDA of CAD 91.3 million and a multiple of approximately 7.5x when including run-rate synergies of approximately CAD 26 million in year 3.