(Reuters) – Henkel has agreed to acquire U.S.-based protective coating and sealing solutions firm Seal for Life Industries as it sees growing demand in repairing and maintenance, the German consumer goods company said on Thursday.
“Driven by aging infrastructure and an increasing relevance of sustainability, the demand for solutions that enable the extension of asset life of infrastructure is continuously growing,” Henkel said in a press release.
The U.S. firm that employs more than 650 people offers coating solutions that can be applied in repairing and maintaining infrastructure assets including pipelines and piles, the German firm said.
Henkel said Seal for Life generated sales of around 250 million euros ($268 million) in 2023.
It did not disclose financial details of the transaction.
($1 = 0.9314 euros)
(Reporting by Andrey Sychev; editing by Bartosz Dabrowski)
Comments