Sika acquires leading mortar solution manufacturer from CVC Fund V

Sika acquires leading mortar solution manufacturer from CVC Fund V

10:19 AM, 8th January 2019
Sika logo

BAAR, SWITZERLAND: Sika has made a binding offer to acquire Parex from its current owner CVC Fund V. Parex is a leading manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars. Parex has a particularly strong presence in distribution channels, combining recognized brands with R&D expertise and technical excellence. It is locally present in 23 countries with key positions in 8 core geographies and operates 74 plants around the world.

 "The businesses of Parex and Sika are highly complementary. Using Parex technologies as a growth platform in all our 101 countries and cross-selling of our products to the well established distribution channels of Parex will generate great profitable growth. Parex's excellent facade business can be leveraged in the entire Sika world," said Paul Schuler, CEO of Sika. 

"Under CVC Fund V's ownership, the Parex team has delivered a very strong performance.Over this 5-year period, Parex entered 3 new countries and opened 16 new plants, added 11 bolt-on acquisitions, and built a new international R&D center. Sika represents a great platform to continue to deliver on Parex's ambitious growth plan, " said Eric Bergé, CEO of Parex.

With this acquisition Sika will further strengthen its leading position in construction chemicals and industrial adhesives and will reach sales in excess of CHF 8 billion. Its mortar business, which is a key growth technology for the group and one of its important earning contributors, will more than double in size to CHF 2.3 billion. Parex's strong position in distribution channels will open up new business opportunities for Sika's product range.

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