H.B. Fuller Co. has acquired ProSpec Construction Products, which is a provider of tile and stone installation products. According to Jim Owens, president and CEO of H.B Fuller, this acquisition supports the company’s growth strategy by strengthening its customer profile in the southeastern and western regions of the United States, where tile consumption is largest. The addition of ProSpec also increases the depth of H.B. Fuller’s product offerings and enables lower-cost and better service to customers through a larger manufacturing footprint.
ProSpec, with 2013 net revenue of $27 million, will be included in H.B. Fuller’s North America Construction Products operating segment. H.B. Fuller has purchased the business from Bonsal American, a subsidiary of Oldcastle, the North American holding company of CRH.
Owens noted, the acquisition includes three factories and expands the manufacturing footprint of H.B. Fuller’s construction business into Texas and California. It also improves the company’s manufacturing efficiency in the Southeast and Northeast US.
“Construction is one of our key growth segments in North America, and this acquisition is an exciting move for H.B. Fuller,” said Owens. “With ProSpec, we will be able to better serve our big box customers with locations in the West and Southwest, broaden our product line, reduce our manufacturing and freight costs, and increase our presence with customers and key distributors in the Southeast," he said.
For more information, visit hbfuller.com.