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November 01, 2010 02:00 AM

Sika buys May National Associates

Mike McNulty
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    LYNDHURST, N.J.—Sika Corp. has acquired May National Associates Inc. to further expand its sealing and bonding operation.

    The transaction gives Sika its first production base in North America for silicone adhesives and sealants since it began producing products in the U.S. in 1936, according to a spokeswoman for Sika A.G., the Baar, Switz- erland-headquartered parent of Sika Corp.

    May National, with annual sales in the $20 million range, will operate as a subsidiary of Sika and be headed by the company's present management team at its production facility in Lakewood, N.J. It has a work force of about 60.

    The transaction enables Sika to fur- ther build its global silicone sealants operation, especially in the growing North American solar and facade markets, the company said. Financial details weren't disclosed.

    Founded in 1984, May National makes and markets a full range of silicone, polyurethane, hybrid, and acrylic sealants and adhesives, principally for the industrial, construction and distribution industries.

    That fits in well with Sika's offerings, the spokeswoman said.

    Sika's parent has been active in the engineered silicones business in Europe since 2004 and the company wanted to build a stronger footprint in North America and expand its global silicone technology and know-how to the region, the firm said.

    With nine plants in the U.S., Sika produces polyurethane adhesives and sealants at its Lyndhurst and Marion, Ohio, facilities, the spokeswoman said.

    The company's product portfolio features concrete admixtures, specialty mortars, sealants and adhesives, damping and reinforcing materials, structural strengthening systems, and industrial flooring as well as roofing membranes and waterproofing systems.

    Many of those offerings are made at the firm's other U.S. factories.

    Sika A.G. has subsidiaries in more than 70 countries globally and about 12,500 employees. Its annual sales are about $4.4 billion.

    The acquisition of May National is the second sizable deal Sika has made in the last four months. The company completed the purchase of St. Louis, Mo.-based Greenstreak Group Inc. July 1 to strengthen its position in the North American construction industry.

    Greenstreak, with annual sales of about $30 million, makes a variety of products, including engineered water stops and joint seals, doweling systems, architectural form liners, pipe line protectors and forming accessories.

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