European company Soudal has continued with its plan to become a global player in the adhesives and sealants market by acquiring Accumetric.
This acquisition instantly increases Soudal's turnover by 7%, bringing the total consolidated sales to €592m in 2014.
Family-owned manufacturer of sealants Accumetric, was founded more than 40 years ago and has built a strong market position through its brands Boss, Dynatex and CPI in India and Thailand, which Soudal hopes to tap into.
Soudal already has plans to invest heavily in Accumetric's production plant in Elizabethtown, Kentucky, with around €15.5m being ploughed into building and equipment.
Accumetric will continue to trade under its current name, but as a Soudal affiliate and the existing management team will remain onboard.
Founder and chairman of Soudal, Vic Swerts, said: "The acquisition of Accumetric is an important step for Soudal and will allow us to build a strong position in the USA.
"Soudal is already looking forward to grow significantly in North America from its new base in Kentucky."
Acquiring Accumetric now brings the total number of factories Soudal has in the world to 15 and around 2,000 employees.