Cleary Gottlieb is representing Saint-Gobain in its entry into a definitive agreement for the acquisition of The Bailey Group Companies (Bailey)—consisting of Bailey-Hunt Limited and its subsidiaries—a privately owned manufacturer of metal building solutions for light construction in Canada, for C$880 million in cash.
The transaction was announced on April 3, 2024. Closing of the transaction is subject to satisfaction of customary closing conditions and is expected in the second half of 2024.
Bailey is a player in metal framing in Canada with C$532 million of sales in Canada and 17.2% EBITDA margin in 2023. With a 75-year history, Bailey has 12 manufacturing plants across Canada and around 700 employees with a well-recognized brand thanks to its best-in-class customer service, expertise, and technical capabilities. Bailey has been a long-standing partner of Saint-Gobain for metal ceiling grids, frames, and fasteners.
Saint-Gobain is a worldwide leader in light and sustainable construction, with locations in 76 countries and 160,000 employees. It designs, manufactures, and distributes materials and services for the construction and industrial markets.
For more information, please see the press release here.