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Sika Looks to Stepping Up Acquisition Drive

Posted By ASC, Friday, September 29, 2017
Updated: Thursday, September 28, 2017

Sika's (SIK.S) Chief Executive, Paul Schuler, wants to accelerate the Swiss industrial and construction chemicals maker's acquisition drive with more and bigger deals in the next 15 months.

Schuler, who took the reins in May, said he expected to buy up to six companies by the end of next year, with revenues ranging from 100 million to 500 million Swiss francs.

The purchasing spree would be ramped up from Sika's previous strategy of bolt-on acquisitions of companies with revenues of around 50 million francs.

Sika, which makes chemicals used in construction projects like the Gotthard rail tunnel under the Alps, could spend up to 1 billion francs ($1 billion) per year, Schuler told Reuters in an interview, up from the 200 to 300 million francs it has been spending annually.

"We would like to be a bit faster, increase the speed of acquisitions," Schuler said, adding the group had a strong pipeline of acquisitions.

Schuler said it was preferable to buy family-owned businesses which had succession issues, and buying them would allow them to increase their profitability by leveraging Sika's sales, distribution and manufacturing network.

 

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