M&A Deal Summary

Propex Operating Acquires Sika Services AG - Concrete Fibers business

On November 6, 2018, Propex Operating acquired manufacturer Sika Services AG - Concrete Fibers business from Sika

Acquisition Highlights
  • This is Propex Operating’s 1st transaction in the Manufacturing sector.
  • This is Propex Operating’s 1st transaction in the United States.
  • This is Propex Operating’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2018-11-06
Target Sika Services AG - Concrete Fibers business
Sector Manufacturing
Buyer(s) Propex Operating
Sellers(s) Sika
Deal Type Divestiture

Target

Sika Services AG - Concrete Fibers business

Chattanooga, Tennessee, United States
Sika Services AG - Concrete Fibers business includes a US plant manufacturing synthetic fibers for use in concrete reinforcement.

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Buyer(S) 1

Buyer

Propex Operating

Chattanooga, Tennessee, United States
Category Company
Founded 1884
Sector Furniture
DESCRIPTION

Propex Operating is a manufacturer of the primary carpet backing and secondary carpet backing. The Company is also a producer of woven and non-woven polypropylene fabrics for use in furniture, bedding, automotive, geotextile, and other industrial fabrics applications. Propex Operating was founded in 1884 and is based in Chattanooga, Tennessee.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-02 Propex Foreign Holdings

Matehuala, Mexico

Propex Foreign Holdings is a producer of woven and non-woven polypropylene fabrics for Food and pharmaceutical companies transport product in these 1-2 ton FIBC bags that feature high Tensile Strength, UV-Ray Resistance, and Anti-microbial material in a variety of coatings, widths, and weights.

Sell -

Seller(S) 1

SELLER

Sika

Baar, Switzerland
Category Company
Founded 1910
Sector Chemicals
Employees33,998
Revenue 11.2B CHF (2023)
DESCRIPTION

Sika is a manufacturer of speciality chemicals for construction and industry. Information about divisions and products, technologies and stock performance. Sika was founded in 1910 and is based in Baar, Switzerland.

DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 2
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-27 Polypag AG

Altstätten, Switzerland

Polypag is a manufacturer and developer of polyurethane foam systems. Polypag was founded in Altstätten, Switzerland, in 1980.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 Arcon Membrane Srl

Sfântu Gheorghe, Romania

Arcon Membrane Srl is a manufacturer of roofing and waterproofing systems in Romania. In its fully automated manufacturing facility, it produces technologically advanced bituminous membranes, with the potential to also serve other South East European markets. Furthermore, Arcon’s product portfolio also includes thermal insulation systems for facades and roofs, combining EPS (expanded polystyrene) sheets and bituminous membranes. The acquired technologies will perfectly complement Sika’s roofing, waterproofing, and building envelope systems.

Buy -
Mergr

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