H.B. Fuller Buys ProSpec Construction Products

(RTTNews) - Paint and adhesive maker H.B. Fuller Co (FUL) said Wednesday it has acquired ProSpec Construction Products, a provider of tile and stone installation products.

The deal supports H.B. Fuller's growth strategy by strengthening the company's customer profile in the southeastern and western regions of the United States, where tile consumption is largest.

ProSpec, with 2013 net revenue of $27 million, will be included in H.B. Fuller's North America Construction Products operating segment. H.B. Fuller has purchased the business from Bonsal American, a subsidiary of Oldcastle Inc., the North American holding company of CRH plc.

The acquisition includes three factories and expands the manufacturing footprint of H.B. Fuller's construction business into Texas and California. It also improves the company's manufacturing efficiency in the Southeast and Northeast US.