PHILADELPHIA—Bostik Smart Adhesives, part of the Arkema Innovative Chemistry Group, acquired CMP Specialty Products, a flooring and floor preparation business of U.S.-based specialist CGM.
CMP generated $15 million in 2016, and is part of Bostik's strategy to expand in the growing U.S. construction market, according to a statement. The decision is also fully part of a strategy to accelerate the group's growth in specialty adhesives with bolt-on acquisitions. The firm offers flooring surface preparation repair patches, leveling compounds and primers for commercial and residential flooring applications.
"We are very pleased to welcome the CMP Specialty Products teams. This acquisition will support our strategy to provide our customers with the most innovative flooring systems," said Vincent Legros, Bostik executive vice president.
Following the acquisition last December of Den Braven, a high-performance sealant business, the acquisition of CMP is part of a strategy to develop Bostik as a core element of long-term growth.