Deal is sealed for adhesive manufacturer as global giant swoops
Tamworth adhesives manufacturer Apollo has been bought by H.B. Fuller.
Established in 1972, Apollo has been supplying industry-leading adhesives, liquid coatings, sealants and primers from its base for half a century. It will integrate into H.B. Fuller’s construction and engineering adhesives business units.
H.B. Fuller, an adhesive manufacturer, is a $3.3bn turnover company listed on the NYSE. The current management structure at Apollo will remain and so will its entire employee base which the previous owner of Apollo Jonathan Sauders said was ‘crucial’ in this decision.
Managing director of Apollo, Ian Cornelius said: “The change in ownership will enable Apollo to grow and prosper under a larger and well-respected organization. In particular, it will allow Apollo to continue to expand its operations within the EU.
“It will also provide additional resources, technology and expertise, meaning that we can further enhance and expand our service and product offering to our customers.
H.B. Fuller’s president and CEO Jim Owens said: “Apollo’s highly specified commercial roofing,
construction and high-performance industrial adhesives will drive new growth opportunities in our construction and transportation adhesives businesses in the UK and across EIMEA.
“Together, we will leverage the synergies made possible through this transaction to partner more efficiently and effectively with customers in roofing, building envelope and transportation.”
Bracebridge Corporate Finance advised on the sale.