Sika Corp. has acquired the Greenstreak Group Inc., strengthening Sika’s engineered waterproofing business in North America.
Greenstreak, founded in 1950, manufactures engineered waterstops and joint seals, doweling systems, architectural form liners, pipeline protections, and a wide range of forming accessories.
Over the past 20 years, St. Louis-based Greenstreak has achieved a leading position in waterstops and watertight system solutions for concrete construction in North America. Greenstreak’s current management team will continue to manage the company’s approximately 100 employees and its production facility in St. Louis . Greenstreak will operate as a subsidiary of Sika Corp.
Sika Corp., based in Lyndhurst, N.J., is a subsidiary of Sika AG.
With its 2008 acquisition of the European-based Tricosal, Sika now takes ownership of three globally strong engineered waterstop brands: Sika, Tricosal and Greenstreak.
“Used on some of the most notable projects worldwide, Greenstreak products are an ideal fit into the Sika Corporation product line,” Sika said in a statement. “Greenstreak’s innovation, engineering, and top quality craftsmanship are a perfect pairing with Sika’s customer-first philosophy
The transaction closed July 1, 2010, the companies said. Greenstreak’s annual revenues are approximately $30 million USD.
Sika Corporation Construction Products Division has 100 years of experience in concrete materials and restoration technology. Its product line includes concrete admixtures, sealants, adhesives, corrosion inhibitors, specialty mortars, epoxy resins, structural strengthening systems, grouts, anchoring adhesives, overlays, and protective coatings.