Acquisition of American provider for building finishing
Sika has acquired HPS North America. The integration of the established supplier of building finishing materials in the USA into Sika USA is intended to advance Sika's market position in the Building Finishing segment on the American market.
Sika is continuing its expansion plans in the USA and has acquired HPS North America, Inc. from Florence in the US state of Alabama. According to a press release, the supplier of products including self-levelling and waterproofing solutions has successfully developed in the American market.
The products are reportedly sold through an established distribution network and are designed for use on floors. These include products of the Schönox brand, which Sika Germany manufactures. Sika had already held a minority stake in HPS North America.
The takeover provides the Baar-based company, which specialises in speciality chemicals, with a “strong platform for further expansion in the growing Building Finishing segment” and expects significant efficiency gains.
“With the integration of the HPS business into our US organisation, we will be able to drive forward the expansion of our business relationships and distribution networks in the building finishing market at full speed,” said Mike Campion, Regional Head Americas at Sika, in the press release.