Sika has acquired a majority stake in Index Construction Systems and Products, a manufacturer of roofing and waterproofing systems, headquartered close to Verona, Italy.
The company generates annual sales of $119mn. By acquiring Index, Sika will extend its product range and significantly strengthen its position in the Italian market.
Index is a well-established, family-owned company with a highly-regarded brand and a loyal customer base. Its product portfolio consists of technologically advanced bituminous membranes for roofing and waterproofing, products for thermal and acoustic insulation, as well as waterproofing and repair mortars. The company mainly serves customers in Italy, but also in more than 100 other countries worldwide.
Thanks to the acquisition Sika can profit from Index’s know-how and expertise in bitumen technologies when further developing its business in Southern Europe and North Africa. By combining both companies’ products, Sika will become a full-range supplier, offering all available technologies in the roofing and waterproofing market. Furthermore, access to the broad sales network of Index will provide significant cross-selling opportunities.
Luigi Carlon, founder of Index, said: “I am very proud to have found in Sika a partner who will support the growth of Index. Together we will advance our market position as the Italian market leader for roofing systems and further develop our business. Thanks to the worldwide presence of Sika, I am especially glad that Index can continue to grow and in the future bring even more innovative products to our customers.”
Paul Schuler, CEO of Sika, said: “We are delighted to welcome the Index employees into our team and look forward to expanding our joint business operations. Index is a proven industry leader and together we will hold a strong number one position in the Italian roofing market. On account of its high research and development competence, and expandable production capacity, we will establish the new site as its Southern European production hub for bituminous systems, with potential to also serve the Middle East and Africa.”