Global adhesives manufacturer HB Fuller has acquired the adhesives business of Wisdom Worldwide Adhesives for $122 million, and is expected to generate annual run rate synergies of around $6 million starting in 2018. Founded in 1875, Wisdom is a privately owned company, which generated revenue of $100 million and EBITDA at $11 million in fiscal 2016.
According to HB Fuller, the purchase price is in a multiple equal to approximately seven times Wisdom’s fiscal 2016 EBITDA on a post-synergy basis, and expects the transaction to be modestly accretive to earnings in the first year. (AR)
ALCHEMPro News Desk – India
marketing@alchempro.com
