Holcim Buys Polymers Sealants North America From Illinois Tool Works

(RTTNews) - Holcim Group (HCMLY.PK, HCMLF.PK), a Swiss building materials maker, Tuesday said it has completed the acquisition of the Polymers Sealants North America or PSNA division of Illinois Tool Works Inc. (ITW).

PSNA is a provider of coating, adhesive and sealant solutions with 2022 estimated net sales of $100 million. It has more than 150 employees and manufacturing plants in California, Arizona, Texas, Georgia and Massachusetts.

The deal accelerates Holcim's growth in Solutions & Products, especially in waterproofing and coatings, to reach 30% of Group net sales by 2025.

The acquisition adds to Holcim's other recent acquisitions in roofing and insulation, from Firestone Building Products, Malarkey Roofing Products to SES. Pro-forma net sales for Holcim's roofing and insulation business are on track to reach 3.5 billion Swiss francs for 2022.

Jamie Gentoso, Head Solutions & Products, said, "With PSNA we are broadening our waterproofing and coatings offering while delivering significant synergies with our roofing business. … By expanding our building envelope offering, together we can play a bigger role in providing innovative and sustainable solutions for energy-efficient buildings."