CMS Portugal advised Selena Group, a Polish holding of companies engaged in the production and distribution of construction chemicals on the acquisition of IGM Group, a Portuguese leader in the production and distribution of high‑quality sandwich panels to enter the thermal insulation products market.
Selena signed a conditional share purchase agreement to acquire 100% of the shares in IGM Group subject to the fulfilment of certain conditions precedent, including obtaining the consent of the Portuguese antitrust authority and a positive outcome of due diligence. The acquisition will be completed in stages and will significantly expand Selena’s product portfolio and strengthen its position in the Iberian markets. It also represents an important step in implementing Selena Group’s business‑scaling strategy, which is based on mergers and acquisitions - particularly in the thermal insulation segment - and reflects a leading development trend in both the domestic and global construction industry.
The CMS Portugal team advising on this transaction was led by Francisco Xavier de Almeida, partner in the Corporate M&A practice area, and included senior associate André Guimarães and trainee associate Henrique Mafra Falcão, all from the Corporate M&A team. The CMS Portugal team also included, from the Real Estate practice area, partner João Pinheiro da Silva, associate Carlos Henriques Saraiva, and trainee Duarte de Castro Rodrigues. From the Competition and EU Law practice area, partner Luís Miguel Romão and associate Maria Joana Faria were also involved. Selena's financial advisor was Oaklins, which had a team composed of managing partner João Beirôco and director Vera Pinto.
The team advising IGM Group was composed of Cuatrecasas M&A partner Samantha Cyrne and included the associate Rodrigo Bastos Peixoto and the trainee associate Gonçalo Ferreira da Mata. IGM Group’s management advisor was Origem, represented by Victor Guegues and Leonor Dantas.
According to Francisco Xavier de Almeida, partner in Corporate M&A at CMS Portugal: “This is another investment in Portugal by a foreign group that we are pleased to advise on. This acquisition once again demonstrates that the Portuguese market is attractive to foreign investors and that CMS is the right partner for these transactions.”
