H.B. Fuller acquires ProSpec
H.B. Fuller Company has acquired ProSpec Construction Products, a provider of tile and stone installation products.
This acquisition supports H.B. Fuller’s growth strategy by strengthening the company’s customer profile in the southeastern and western regions of the United States, where tile consumption is largest. The addition of ProSpec also increases the depth of H.B. Fuller’s product offerings and enables lower-cost and better service to customers through a larger manufacturing footprint, the company said.
ProSpec, with 2013 net revenue of $27 million, will be included in H.B. Fuller’s North America Construction Products operating segment. H.B. Fuller has purchased the business from Bonsal American, a subsidiary of Oldcastle Inc., the North American holding company of CRH plc. The acquisition includes three factories and expands the manufacturing footprint of H.B. Fuller’s construction business into Texas and California. It also improves the company’s manufacturing efficiency in the Southeast and Northeast U.S.
“Construction is one of our key growth segments in North America, and this acquisition is an exciting move for H.B. Fuller,” said H.B. Fuller president and CEO Jim Owens. “With ProSpec, we will be able to better serve our big box customers with locations in the West and Southwest, broaden our product line, reduce our manufacturing and freight costs, and increase our presence with customers and key distributors in the Southeast.”
ProSpec provides architects, engineers and commercial/residential construction contractors with construction products that include surface preparation systems, tile and stone installation systems, and concrete repair and restoration products
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