Acquisition strengthens and expands position in the global specialty construction tapes market and creates new opportunities for engineering adhesives solutions
H.B. Fuller Company (NYSE:FUL), the largest pureplay adhesives company in the world, today announced that it has acquired HS Butyl Limited (HS Butyl), the UK's largest manufacturer and distributor of high-quality butyl tapes, which provide strong, permanent, watertight seals for a wide variety of applications within the construction, infrastructure, automotive and renewable energy industries.
The acquisition ─ which is a continuation of H.B. Fuller's strategy to deliver adjusted EBITDA margin of 20 percent in the next three to five years ─ advances one of the company's top 20 technology-based growth segments and uniquely positions H.B. Fuller 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. Now, 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 from its headquarters in Lymington, England, since its founding in 1964. With more than $23 million in annual sales, HS Butyl exports to more than 50 countries around the world. The new business will operate within H.B. Fuller's Construction Adhesives global business unit.
About H.B. Fuller:
As the largest pureplay adhesives company in the world, H.B. Fuller's (NYSE:FUL) innovative, functional coatings, adhesives and sealants enhance the quality, safety and performance of products people use every day. Founded in 1887, with 2023 revenue of $3.5 billion, our mission to Connect What Matters is brought to life by more than 7,000 global team members who collaborate with customers across more than 30 market segments in over 140 countries to develop highly specified solutions that enable customers to bring world-changing innovations to their end markets. Learn more at www.hbfuller.com.
About HS Butyl:
HS Butyl is a privately owned family business with over 45 years' experience in manufacturing butyl tapes, developing formulations for many different applications.
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