Sika Announces Acquisition of Japanese Adhesives and Sealants Business

Sika has agreed to acquire Hamatite, the adhesives business of the Yokohama Rubber Co. Ltd., which offers adhesives and sealants to the construction and automotive industries. According to the announcement, the acquisition will significantly strengthen Sika’s market position in Japan, increase market access to all major Japanese OEMs, and notably extend the product offering for sealing and bonding applications in the Japanese construction industry. Headquartered in Tokyo, the Hamatite business generates annual sales of approximately $176 million. The transaction is subject to clearance by anti-trust authorities.

Hamatite’s product portfolio comprises various technologies such as polyurethanes, hot melts, and modified silicones. Its main application area in the construction industry is sealing and bonding solutions for exterior facades. The company operates five plants, the main site being in Hiratsuka, Japan. Additional manufacturing facilities are located in Japan, China, Thailand and the USA.

GED Integrated Solutions Acquires Norfield

GED Integrated Solutions Inc., a portfolio company of the Beekman Group, has acquired Norfield Inc., a California-based automation equipment, parts and services provider for the commercial and residential door manufacturing market.

Founded in 1959, Norfield serves a base of customers in the pre-hung door machinery industry. It’s headquartered in Chico, Calif., and has a second facility in the Raleigh, N.C., area. Both GED and Norfield will retain their respective company brands.

“We are highly impressed with Norfield’s market position, [its] product portfolio and long-term customer relationships. [Its] successful history of serving thedoor manufacturing market and focus on value-added solutions is a terrific match for GED, and we are thrilled to welcome them to the GED family,” says GED CEO Bill Weaver. “We believe we will accomplish more together in the years to come than we could as separate companies.”

“Norfield and GED are leaders in their respective equipment markets, and they share the same goals of delivering high quality products, services and aftermarket parts to their customers,” adds Jeff Reed, executive chairperson of GED. “The two businesses will complement each other well, and I, along with Beekman and GED, look forward to supporting their continued growth.

Prince International to Acquire Ferro

Prince International Corp., a portfolio company of American Securities LLC, is acquiring Ferro Corp. for $22 per share in cash, a transaction valued at approximately $2.1 billion, including the assumption of debt, net of cash. Ferro’s board of directors unanimously approved the agreement.

In conjunction with the transaction’s closing, the company will combine Chromaflo Technologies, a global provider of colorant technology solutions and an American Securities portfolio company. According to an announcement, the combination of Prince, Ferro and Chromaflo will result in a worldwide, diversified business with approximately $2 billion in sales.

“We are thrilled about combining Prince, Ferro and Chromaflo, each a leader in their respective markets, to form a true global technology leader in color solutions, functional coatings and specialty minerals,” says D. Michael Wilson, Prince CEO. “The combination will result in a company with unmatched competencies in particle engineering, glass science and color technology. It will enhance our ability, on a global scale, to deliver state-of-the art products and innovative solutions that enrich everyday life.”

The transaction is expected to close during the first quarter of 2022, subject to the approval of Ferro shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.

Ferro is also the parent company of Dip-Tech, a digital ceramic in-glass printing solutions provider based in Kfar Saba, Israel, which it acquired in 2017.

Leaf Home Solutions Acquires Third Company

Leaf Home Solutions, a direct-to-consumer provider of branded home solutions, has acquired three companies with ties to the glass and glazing industry.

Thiel’s Home Solutions, acquired September 2020, provides custom replacement windows, along with kitchen and bathroom makeovers. Storm Tight Windows is a direct-to-consumer seller of Category 5 hurricane-rated, Miami Dade County-approved, impact windows in South Florida. It was acquired in December 2020. Miracle Windows & Showers, which offers shower doors and enclosures, was acquired in January 2021. All will maintain current operations.

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