H.B. Fuller Acquires HS Butyl to Expand Waterproofing Tape Business in Europe
Last update on Aug 8, 2024
H.B. Fullerhas acquired HS Butyl Limited (HS Butyl), UK's manufacturer and distributor of high-quality butyl tapes. HS Butyl's tapes provide strong, permanent, watertight seals for a wide variety of applications within the construction, infrastructure, automotive and renewable energy industries.The acquisition is a continuation of H.B. Fuller's strategy to deliver an adjusted EBITDA margin of 20 percent in the next three to five years.
Expand into $15 Bn Market
The acquisition advances one of the company's top 20 technology-based growth segments. It positions the company to accelerate its expansion into the $15 billion global waterproofing tape market, which includes butyl tape technologies.
In 2022, H.B. Fuller grew its existing technology platform for butyl tapes through the acquisition of GSSI Sealants Inc., a North American-based manufacturer with a strong portfolio of butyl tapes.
Opportunities to Deliver In-demand Solutions
The company will leverage these capabilities and its global distribution network to further grow HS Butyl's innovative technologies in Europe, where the waterproofing tape market is twice as large as in North America.
'This acquisition establishes H.B. Fuller's presence in the European waterproofing tape market, expanding our position as a solution provider to existing customers and our relevance to more markets,' says H.B. Fuller president and CEO Celeste Mastin.
'HS Butyl's innovative technology platform not only complements and completes our existing butyl product line for construction adhesives customers, it creates compelling opportunities to deliver new, in-demand solutions for our customers in the engineering adhesives market, given the technology's relevance to multiple high-value applications. With our innovation capabilities, talent, and expertise, we will continue to grow our position in this space while delivering new applications that create value for our customers worldwide.'
HS Butyl is a family-owned business that has been designing, engineering and manufacturing butyl tape. The new business will operate within H.B. Fuller's Construction Adhesives global business unit.
Source
H.B. Fuller