Bostik Acquires CMP Specialty Products for Floor-Prep Solutions
COLOMBES, France – Bostik acquired floor-prep product maker CMP Specialty Products, according to an announcement today from Arkema, Bostik’s parent company.
Bostik obtained CMP Specialty from building-products manufacturer CGM Inc. of Bensalem, Pa. Terms of the agreement weren’t announced.
CMP Specialty generated $15 million in sales last year.
The acquisition fits Bostik’s strategy to expand in the growing U.S. construction market and offer a complete range of solutions for the flooring market. This acquisition is also part of Arkema’s strategy to accelerate its growth in specialty adhesives with bolt-on acquisitions.
CMP’s floor preparation systems products offer an advanced range of flooring surface preparation repair patches, leveling compounds and primers for both commercial and residential flooring applications. These products will enable Bostik to accelerate its development in the fast-growing floor-preparation market.
“We are very pleased to welcome the CMP Specialty Products teams,” said Vincent Legros, Bostik executive vice president. “This acquisition will support our strategy to provide our customers with the most innovative flooring systems.
“CMP teams will bring their recognized expertise within the commercial flooring sector with high quality and highly performing products. We look forward to leveraging this expertise to better serve our customers within the U.S. market.”
The CMP Specialty acquisition follows the purchase last December of Den Braven, a leader in high-performance sealants. Arkema continues its strategy to actively pursue the development of Bostik – the adhesives business the French company acquired in 2015 — as one of the core elements of its long-term growth.
Bostik is a leading global adhesive specialist in construction, consumer and industrial markets, with annual sales of €1.95 billion. Parent company Arkema, with investments in high-performance materials, industrial specialties and coating solutions, reported annual sales of €7.5 billion last year and employed 20,000 people worldwide in close to 50 countries.
