BASF acquire waterproofing systems provider in US

BASF to acquire waterproofing systems provider in US

7:02 AM, 25th April 2017
BASF logo

MEXICO CITY, US: BASF has signed an agreement to acquire Grupo Thermotek, a leading waterproofing systems supplier based in Monterrey, Mexico. The deal is expected to close by mid-2017.

Grupo Thermotek products are designed to offer maximum quality on virtually every type of substrate and include resinous and dispersion-based materials as well as modified asphalt sheet membranes. The company has more than 200 distributors in the region and employs approximately 500 people.

With this acquisition, BASF intends to build on the strength of the existing Thermotek brands. Both companies offer complementary portfolios of construction chemicals solutions and have different channels to market.

“The construction industry is an important segment of BASF’s business in Mexico and Central America. With the acquisition of Thermotek we are fostering our company’s growth path and demonstrating our commitment to our customers in this region,” said Dr Michael Stumpp, managing director BASF Mexicana SA de C V and Central America.

“Through this acquisition, BASF will strengthen its family of waterproofing systems brands and broaden its sales channels in Mexico and Central America to continue helping customers solve their challenges,” said Ralf Spettmann, president of BASF’s construction chemicals division.

“Thermotek has always aimed to exceed customer expectations through top-quality service and product performance. As part of BASF, customers will benefit from a robust product portfolio and the innovation expertise of the world’s leading chemical company,” said David Wolberg, CEO, Grupo Thermotek.

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