International private equity firm Cinven today announces that it has completed the acquisition of Master Builders Solutions from Sika AG and that it has also appointed Dr Boris Gorella as CEO of the Company. In addition, Eric Bergé has been appointed as a member of the Advisory Board. Master Builders Solutions was formed through the combination of the admixtures operations of the MBCC Group in North America and Europe, and both admixtures and construction systems operations in Australia and New Zealand.
Dr. Boris Gorella joins Master Builders Solutions with more than 20 years’ experience in senior leadership roles, including significant experience in the chemical and basic material industry and a proven track-record as CEO. Over the last decade, Boris has developed businesses by accelerating growth, both organically and through acquisitions, and driving profitability across the whole value chain. He was previously CEO of Pfleiderer Group, a leading European manufacturer of engineered wood panels, where he was successful in expanding the business with a focus on product premiumisation and price-management. Prior to Pfleiderer Group, Boris was CEO of Beckers Group, a coatings provider for industrial applications with operations in 19 countries. During his time in this position, he helped develop the company into the global leader in coil coatings.
Boris is familiar with Master Builders Solutions, having operated as head of BASF’s Construction Chemicals Business Unit in Asia Pacific, as well as President of Evonik’s Construction Chemicals Business Unit in Asia. Boris received an MBA from INSEAD and a PhD in Chemistry from TU Berlin.
Eric Bergé has more than 20 years’ experience in the industry, having been President of the US operations at Parex, a constructions systems manufacturer, before becoming Managing Director of Chryso, a leading admixtures manufacturer, and then returning to Parex as CEO.
Dr. Boris Gorella commented:
“I am very excited to join Master Builders Solutions, a company with world-class technologies, proven innovation capabilities, strong brands and very committed employees, at such a pivotal time for the business. As an independent company with construction chemicals at its core and under new ownership, I am looking forward to working with Master Builders Solutions’ management and the Cinven team to help the business realise its full potential through new opportunities and a long-term growth strategy.”
Pontus Pettersson, Partner at Cinven, added:
“We are very pleased that Boris and Eric will be joining Master Builders Solutions. They both have longstanding experience in the industrials sector, building businesses and empowering teams, and are both former executives of leading groups in the industry. We are convinced they will add great value to Master Builders Solutions in its next phase of growth. Cinven is excited to build an independent, focused company, providing the support to achieve an ambitious growth strategy and we look forward to working closely with Boris and Eric to accomplish this.”
Cinven’s acquisition of Master Builders Solutions builds on its significant expertise in the admixtures market through its successful investment in Chryso. Under the Cinven Funds’ ownership, Chryso grew to become a leading player in the admixtures market.
The transaction underscores Cinven’s reputation as one of the leading investors in industrial carve-outs in Europe. Since 2020, Cinven has completed the carve-outs of TK Elevator from thyssenkrupp AG (2020), Arxada (formerly Lonza Specialty Ingredients) from Lonza Group AG (2021) and Envu (formerly Bayer Environmental Science) from Bayer AG (2022). Cinven is one of the leading investors in Germany and the wider DACH region. In addition to the aforementioned carve-outs, recent Cinven Funds’ investments headquartered in Germany include think-cell (2021) and dogado group (2023, combination with group.ONE), as well as Viridium Group (2019), STADA (2017) and Synlab (2015).