CPE Media News (2/20/2019) – ParexGroup SA (PAREX), a portfolio company of CVC Capital Partners, has acquired CTM Coatings Inc. Michael delle Donne, Managing Director, and the CTM team will join PAREX and become part of PAREX Americas.
PAREX is a leading international construction chemical company providing specialty solutions to the building and construction industry. With 4,400 employees in 22 countries, 72 manufacturing facilities, 2 group R&D centers in France and China, the group achieved €1 billion in sales in 2017.
Founded in France in 1978 by Lafarge and since 2001 part of Materis, ParexGroup was acquired by CVC Capital Partners in June 2014. In January 2019, CVC Capital Partners signed a binding agreement to sell PAREX to Sika AG for an enterprise value of CHF 2.5 billion or US $2.55 billion.
photo credit: CTM Coating
News Release
PAREX ACQUIRES CTM COATINGS INC IN CANADA
Issy-les-Moulineaux, February 18th, 2019. – PAREX is pleased to announce the acquisition of CTM Coatings in Canada. Based in Montreal, Quebec, CTM has 30 employees and its own chemical production facility. Founded 15 years ago, CTM is a recognized specialist of flooring compound systems. In the recent years, CTM has recorded a rapid development into the USA market, with a solid reputation of quality and excellent service to contractors and flooring distributors.
PAREX has already a significant presence in the USA, with 8 plants and 320 employees. CTM allows PAREX to expand its activity in North America into the segment of technical solutions for flooring, with a particular focus on residential and commercial buildings renovation. Commenting on the transaction, Eric Bergé, CEO of PAREX, said: “We are happy to enter Canada, our 24th country, and to strengthen our business with a complementary offer in North America. The CTM team brings in-depth technical expertise in epoxy and polyurethane based solutions”.
We warmly welcome Michael delle Donne, Managing Director, and the CTM team in the PAREX family.
The financial consideration for this acquisition is not disclosed.