Sika Inks Deal with L.M. Scofield
Specialty chemical company Sika Corp. has acquired L. M. Scofield, a 100-year-old North American producer of color additives and decorative products for concrete.
Terms of the transaction, jointly announced April 1, were not disclosed.
Based in Los Angeles, with additional production facilities in Atlanta, L.M. Scofield offers a comprehensive range of color products to serve customers in the fast-growing decorative concrete market of North America.
The company generated sales of CHF 17 million ($17.8 million) in 2015.
Established in 1915 by Lynn Mason Scofield, an engineer and inventor in Chicago, the brand has established itself as a leader in concrete color additives for ready-mix concrete and decorative products and treatments for concrete refurbishment.
‘A Perfect Fit’
In announcing the acquisition, Sika said the deal represents a perfect fit with its growth strategy.
“The acquisition of L.M. Scofield further accelerates our growth strategy for North America,” said Christoph Ganz, regional manager North America, Sika. “It provides us with a proven, industry leader, and a number one brand position in colors for new concrete and refurbishment.”
“We proudly welcome L.M. Scofield’s employees to the Sika team and are excited about growing our business together,” he said.
Over the past two years, Sika says it has expanded its production footprint for mortars and admixtures with four new plants—in Denver, Atlanta, Philadelphia and Vancouver, bringing its total number of manufacturing facilities in North America to 18.
In addition, Sika also acquired the mortar company BMI, in 2015, to complete the supply chain in the dynamic Californian market, the company said.
Sika Corp., based in Lyndhurst, NJ, is the largest company of the Sika Group, a global leader in specialty chemicals for construction, industrial and automotive markets.