Sika has announced it will acquire King Packaged Materials Company, which manufactures dry shotcrete and mortars for concrete repair.
The company provides shotcrete solutions, grouts, and repair and masonry mortars for the construction, mining and home improvement industries.
In Northern Ontario, King operates a location in the Sudbury neighbourhood of Levack, which includes office space, a fabrication shop, and an equipment shop.
King’s additional operations are located in Brantford, Burlington, and Oakville, Ont.; Boibriand, Que., and Allentown, P.A.
Sika said the acquisition would expand its Canadian footprint, and improve its growth potential in a number of markets.
“With the acquisition of King and its broad and highly complementary product offering, we will further strengthen our presence in Canada and open up exciting new cross-selling opportunities,” said Christoph Ganz, Sika’s regional manager of Americas, in a March 7 news release.
“Especially in the home improvement market and in the growing tunnelling and mining market segments, the acquisition of King Packaged Materials will make Sika one of the leading suppliers of concrete solutions in Canada. We look forward to a successful joint future and would like to extend a very warm welcome to all King employees as they join the Sika team.”
King Packaged Materials employs 180 people across operations.
The transaction is expected to close in the second quarter of 2019.
Headquartered in Baar, Switzerland, Sika is a specialty chemicals company developing and producing systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry.
The company has subsidiaries in 101 countries around the world and manufactures in more than 200 factories. Its more than 20,000 employees generated annual sales of CAD$9.4 billion in 2018.
