H.B. Fuller will purchase Royal Adhesives & Sealants, a manufacturer of specialty adhesives and sealants, for $1.57 billion.

In an announcement from H.B. Fuller, the company said that when the transaction closes this fall, H.B. Fuller will total nearly $2.9 billion in revenue for the year, up from $2.1 billion in 2016.

H.B. Fuller president and CEO Jim Owens said in a conference call Tuesday that Royal “fits perfectly with our strategy,” and that “together, we will be a great team.” He added, “Innovation is the core of who they are, and it’s the core of what we do.”

In the durable assembly segment, which includes insulating glass adhesives, spacer systems and glazing, Owens said Royal has “a great position that complements ours.” He pointed to Royal subsidiary Kommerling’s strong brand in Europe and said the merging of H.B. Fuller and Royal “creates the No. 1 global insulating glass [sealants] supplier.”

Royal, headquartered in South Bend, Ind., supplies industrial adhesives to a wide range of markets, including insulating glass, aerospace, transportation, commercial roofing, solar, packaging and flooring applications. It operates 19 facilities in five countries and employs approximately 1,500 people. Owens said H.B. Fuller visited all 19 of Royal’s locations around the world, which confirmed they would be a “great cultural fit” for H.B. Fuller.

H.B. Fuller, based in St. Paul, Minn., makes sealant and adhesive products for the construction, woodworking, clean energy, electronics, disposable hygiene, medical, transportation and packaging industries, as well as other consumer businesses. It has locations in 42 countries and reaches customers in more than 100 countries, employing approximately 3,700 workers worldwide.

H.B. Fuller says it intends to pay for the transaction through new debt financing. The acquisition of Royal is expected to generate approximately $650 million in revenue and $138 million in adjusted earnings for H.B. Fuller in fiscal year 2017, according to the company’s announcement.

Executive vice president and CFO John Corkrean said on the conference call the purchase is subject to limited contingencies and that it could close as early as October of this year.