Sika completed the acquisition of Parex on May 23, 2019, the deal was announced on January 8, 2019.
Parex’s product offering includes facade mortars, tile adhesives, and waterproofing mortars. The company has a strong presence in distribution channels, especially in China, where Parex has built up a network of over 90,000 points of sale. The company is locally present in 23 countries, with key positions in 8 core markets, and operates 74 plants around the world.
The acquisition of Parex will strengthen Sika’s growth platform. Its mortar business, which is a key growth technology for the group and one of its important earning contributors, will more than double in size to CHF 2.3 billion. Parex will gain access to Sika’s well established direct sales channels, and Parex’s expertise in the facade and tile setting business will allow Sika to participate in these growing market fields.
“With the acquisition we are bringing two strong companies together. Parex’s and Sika’s joint business activities present an excellent growth platform for both organizations. In addition to the highly complementary fit with regard to product offerings and channels, we also see that Parex and Sika have very similar cultures, values and management styles – with the focus on customer orientation, empowerment, high-quality products and services. The integration planning is well on track, and on-site visits have confirmed the attractiveness of the combination of the two businesses. We are excited to start working together to build our joint successful future. We warmly welcome all employees of Parex to the Sika Family,” says Paul Schuler, CEO of Sika.
“I am very proud of our entire Parex team and what we have achieved. Sika represents a great platform to continue to deliver on our ambitious growth plan. The combination of the two companies creates new, exciting opportunities in terms of offering new solutions to our customers and continuing our geographic expansion. I am delighted we have found the perfect home for Parex within Sika, a strong company with similar values to our own,” adds Eric Bergé, CEO of Parex.
Learn more at usa.sika.com.