September 25, 2018 / 6:46 AM / 2 months ago

UPDATE 1-French building materials group Consolis considers IPO

* Registers with AMF regulator for possible IPO

* IPO could raise 135 mln euros (Adds detail, background)

PARIS, Sept 25 (Reuters) - French building materials firm Consolis took its first step towards a possible stock market flotation by formally registering plans for an initial public offering (IPO) with the AMF market regulator.

Consolis said it hoped to raise 135 million euros ($158 million) to help cut debt and fund expansion.

The firm had 2017 net sales of 1.44 billion euros and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 114.5 million euros.

Consolis said it hoped to achieve net sales growth, at constant exchange rates, of around 3 percent for the 2018 financial year, with an adjusted EBITDA margin close to 11.5 percent compared to 7.9 percent in 2017.

It also targeted further growth in 2019, with net sales growth seen at around 5 percent compared to 2018, at constant exchange rates and including the impact of acquisitions.

Consolis was bought last year by Bain Capital from LBO France for an undisclosed sum. Bain Capital will remain as Consolis’ main shareholder.

Consolis’ roots go back to the 19th century, when French engineer Aime Bonna founded a supplier of reinforced concrete pipes.

The company now makes precast concrete pieces, such as walls, bridges, tunnels, pipes or railways sleepers, with half of its sales made in Scandinavian countries.

Bank of America Merrill Lynch, BNP Paribas, JP Morgan, Natixis, Barclays, Societe Generale and Nordea are all involved in the planned Consolis IPO deal.

$1 = 0.8516 euros Reporting by Gilles Guillaume and Sudip Kar-Gupta; Editing by GV de Clercq and Kirsten Donovan

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