Mazars advises Ondura Group on the acquisition of CB S.A. in Poland

Mazars advised Ondura Group on its acquisition of the Polish company CB S.A., a leading manufacturer and distributor of specialty building materials, notably waterproofing films and roofing accessories.


Backed by Naxicap Partners and consisting of the operating entities Onduline S.A., alwitra GmbH and CB S.A., the new Ondura Group is a leading international player focused on waterproofing and airtightness of buildings in 5 continents. The Group employs 2,000 people, has 13 factories in 9 different countries and generates a turnover of €350 million, almost 90% of which is generated internationally. Founded in 1995, CB S.A. employs 200 people and has a turnover of EUR 50 million, 45% of which is exported to nearly 50 countries, with two factories in Poland and Germany.

Patrick Destang, CEO of Ondura, says: “Onduline is proud to have been at the origin of the creation of Ondura, an international group which clearly displays its ambitions: to develop waterproofing solutions to protect buildings and their occupants at all times. We have unique positions in this segment, which enabled us to grow during the health crisis of 2020. Individuals want to improve their homes and their outdoor environment, and professionals and communities to renovate existing buildings to increase their lifespan."

Jan Fido, Director leading the Transaction Services & Valuations practice of Mazars in Poland adds: “We were delighted to advise Ondura Group on its acquisition of CB S.A., to help expanding into Europe and support strengthening its position on the market. We wish Ondura Group  and its management team a successful further expansion and development of the business!”

Mazars provided buy-side M&A advisory as well as transaction services to Ondura Group. The cross-border team engaged in that project was composed by:

  • in Paris office: Stéphane Pithois (Partner, Global Head of M&A), Matthieu Maquet (Director – M&A), Fernando Rossi-Vargas (Senior Associate - M&A ).
  • in Warsaw office: Jan Fido (Director, Head of Transaction Services & Valuations), Tomasz Szostak (Senior Manager - Transaction Services), Adam Zohry (Executive Manager - M&A).


About Mazars:

With 42,000 professionals in 90+ countries, Mazars is a leading international audit, tax and advisory firm. Present in Poland since 1992, it has locally 2 offices (Warsaw and Krakow) and 300 employees active in all our main service lines, notably in Financial Advisory (Transaction Services, Valuations, M&A).