SIKA AG

Sika made binding offer to acquire Parex

Sika has made a binding offer to acquire Parex from its current owner CVC Fund V. Parex is a leading manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars. In 2018 the company generated sales of CHF 1.2 billion and an expects an EBITDA of around CHF 195 million. With its expertise in mortar solutions for renovation and new builds, Parex participates in all phases of the construction life cycle. Parex has a particularly strong presence in distribution channels, combining recognized brands with R&D expertise and technical excellence. It is locally present in 23 countries with key positions in eight core geographies and operates 74 plants around the world.

With this acquisition Sika will further strengthen its leading position in construction chemicals and industrial adhesives and will reach sales in excess of CHF 8 billion. It will deepen and widen 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's strong position in distribution channels will open up new business opportunities for Sika's product range. 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 and attractive market fields.

The acquisition is implemented in various steps. The completion of the transaction is subject to French works council consultation process and regulatory approvals and is expected in Q2/Q3 2019.

www.sika.com


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