Another family business in the province that changes hands. After the purchase of Jury Coffee by the Pascual Group and the pending closing operation that will involve the transfer of Suavinex to the multinational Peek a Boo, now it is the manufacturer of Agost roof tiles The Escandella the fact that completes its sale to the French group Edilians.
As confirmed by the CEO of the company, alfred vincent, the owners of the Augustan firm, the roman brothers, they already have a agreement in principle with the Gallic conglomerate, which would now be pending the necessary permits from the National Competition Commission, due to the effects that the operation could have on the market. Above all, because Edilians is already the owner of one of La Escandella’s main competitors, the Valencian Tejas Borja.
Of course, for now, the CNMC council has already has authorized the sale in the first phaseby resolution issued on September 14, as recorded on the website of the supervisory body.
According to Vincent, the decision to sell is made above all before the lack of generational change, Since the current owners are close to retirement age and none of their descendants want to take over the reins of the business, they decided to look for a new shareholder to guarantee the continuity of the business.
In this way, according to the CEO, Edilians’ intention would be maintain both the brand and the current facilities that the firm has in Agost, for which, in fact, there would be new investment plans to increase its production capacity. The French company would also maintain the staff that has been in charge of piloting the company in recent years.
After going through difficult times with the bursting of the real estate bubble and the paralysis of construction, La Escandella was forced to request the bankruptcy in 2009. However, the company managed to reach a refinancing agreement with the bank and, ten years later, in 2019, it definitively abandoned the bankruptcy situation.
The firm managed to weather the first year of the pandemic and last year it registered a considerable increase in its turnover and profits, thanks to the reactivation of the real estate sector and the boom in housing reforms. Thus, according to the accounts deposited in the Mercantile Registry, the turnover of 2021 amounted to almost 47.5 million of euros, 35.7% more than in the previous exercise. And he did it, moreover, with a result of 4.4 million, compared to the 1.4 that he reaped in 2020.
Of course, the company has not been spared from the problems caused by the increase in the cost of raw materials and, above all, the rising energy prices and, specifically, gas. In this way, since the beginning of this month of September, the company has chosen to paralyze three of the four furnaces it has, considering that maintaining production in these facilities would cause losses, a measure that it plans to extend to the month of October, according to its CEO.