Manufacturer of adhesives HB Fuller has strengthened its portfolio with two strategic acquisitions in the US and United Arab Emirates (UAE).
The company has acquired US-based medical adhesives business Adhezion Biomedical and UAE-based adhesives manufacturer XCHEM International.
Adhezion specialises in manufacturing and distributing advanced wound closure and infection prevention adhesives to customers in 40 countries.
It has more than 35 global certifications and 105 patents.
This addition offers vertically integrated adhesive manufacturing and packaging capabilities to HB while enhancing its capability in the topical skin bonding market and driving its further expansion in the medical adhesives industry.
XCHEM provides a range of speciality adhesives and coatings for industrial and infrastructure applications in the construction markets of the Middle East and North Africa.
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The company will be HB’s first manufacturing presence for HB’s flagship Foster brand outside the US.
Following the acquisition, Adhezion will be integrated with HB’s Hygiene, Health, and Consumable Adhesives global business, while XCHEM will operate within HB’s CA global business unit.
The two companies are expected to contribute approximately $17m to revenue and $2m to adjusted earnings before interest, taxes, depreciation and amortisation in this financial year.
HB president and CEO Celeste Mastin said: “Our aspiration is to supply our customers with drops, not trucks, of material. As we further penetrate highly specified applications through new technologies and reduce the amount of material our customers need through innovation in existing, higher volume segments, we create value for our customers and investors.
“Although small, these two acquisitions represent outstanding platforms to capitalise upon and expand our portfolio into high-growth, highly specified markets, consistent with our strategy.”