Fuller sell surfactants, thickeners dispersants biz $71 mn

Fuller to sell surfactants, thickeners and dispersants biz for $71 mn

5:33 AM, 12th June 2019
H B Fuller logo

ST PAUL, US: H B Fuller Company has signed a definitive agreement to sell its surfactants, thickeners and dispersants business to Tiarco LLC, for $71 million.

Tiarco is a wholly owned subsidiary of Textile Rubber and Chemical Company Inc and develops specialty chemicals for a growing number of latex, lubricant and water treatment additive applications.

The transaction is expected to close in the third quarter.

H B Fuller's surfactants, thickeners and dispersants business, based in Dalton, Ga., had fiscal year 2018 sales of approximately $25 million and EBITDA of approximately $8 million. Its brands are well recognized, and the products include thickeners used in carpet, floor coatings, adhesive and caulk formulations, as well as surfactants used in detergents, wetting agents, and foam boosters in beauty and healthcare products.

"The business being sold is a non-strategic, non-adhesive business, which was purchased as part of the Royal acquisition," said Jim Owens, President and Chief Executive Officer of H B Fuller.

"Our focus is to shift our portfolio to more highly specified adhesive solutions, and the surfactants, thickeners and dispersants business is not part of our strategic vision. By divesting this business, we are able to continue to accelerate paying down debt, focus on our core, and better position this business for future growth under the ownership of Tiarco, which specializes in this market. We are pleased that our colleagues will join a strong, established team at Tiarco,” added Owens.

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