Sika Acquires Waterproofing Company
Swiss specialty chemicals company Sika recently announced that it acquired United Gilsonite Laboratories (UGL) in the United States.
UGL is a manufacturer of products for consumer and DIY waterproofing applications. The acquisition is expected to complement Sika’s high valued-added systems for concrete and masonry waterproofing and refurbishment.
In 2021, UGL was reported to generate CHF 65 million (just over $66 million) in sales. The company is headquartered in Scranton, Pennsylvania, where it also has a production facility. Two additional production sites are located in Illinois and Mississippi, giving the company the ability to efficiently supply its products to customers all over the country.
For Sika, the acquisition will increase its presence with major retailers and other building material stores by widening the offering and opening up cross-selling opportunities.
“UGL is a perfect complement to Sika’s current portfolio. The UGL brands are well recognized in the USA, and their consumer and DIY waterproofing solutions allow Sika to extend its business in the USA construction industry. We warmly welcome all the UGL employees to our Sika team,” said Christoph Ganz, Regional Manager Americas.
Sika went on to note that in the U.S. residential housing segment, demand for watertight basements is anticipated to grow at above-average rates. In commercial construction, the need for watertight basements to maximize building utility and protect valuable assets and investments is also showing continued growth.
With the combined offerings of the two companies, Sika intends to take advantage of the growth trends in both the residential and commercial construction segments.
The financial terms of the acquisition have not been made public.