PARIS—Bostik, Arkema S.A.'s adhesives arm, is acquiring Prochimir S.A.S., a French company specializing in high performance thermobonding adhesive films. The move aligns with the company's strategy to grow through acquisition as it targets leading technologies in a market that remains fragmented.
Bostik expects the takeover to propel it into thermobonding films and enable it to broaden its offering of solvent-free thermobonding solutions, which are increasingly used in the automotive, construction, textile and medical markets, Arkema said in a July 26 statement.
Financial details about the transaction were not disclosed, but Arkema noted that the deal is expected to close in the fourth quarter, and is subject to consultations with trade unions and approvals by antitrust authorities.
Prochimir develops and markets high performance thermobonding films and breathable membranes, described by Arkema as "environmentally sound solutions" with excellent adhesion on materials. The company operates two leading production facilities, in Vendee, France and in Virginia.
With approximately 85 employees, Prochimir reported $35.4 million in annual sales last year, and has demonstrated "steady growth" in the last 5 years.
Paris-headquartered Bostik is one of the most dominant players in the adhesive and sealant segment, supplying products to diverse markets, most notably the industrial manufacturing, construction and consumer sectors.