Parex has acquired CTM Coatings Inc, a Montréal-based specialist in flooring compound systems.
No financial terms were disclosed. CTM Managing Director Michael delle Donne and his team will join Parex.
Parex, a Paris-based provider of specialty dry-mix solutions to the construction industry, said the deal expands its activity in North America into the flooring technical solutions segment.
It also facilitates the company’s entry into Canada.
Parex was acquired in 2014 by CVC Capital Partners, a U.K. private equity firm.
PRESS RELEASE
PAREX Acquires CTM Coatings Inc in Canada
Issy-les-Moulineaux, February 18th, 2019. – PAREX is pleased to announce the acquisition of CTM Coatings in Canada. Based in Montreal, Quebec, CTM has 30 employees and its own chemical production facility. Founded 15 years ago, CTM is a recognized specialist of flooring compound systems. In the recent years, CTM has recorded a rapid development into the USA market, with a solid reputation of quality and excellent service to contractors and flooring distributors.
PAREX has already a significant presence in the USA, with 8 plants and 320 employees. CTM allows PAREX to expand its activity in North America into the segment of technical solutions for flooring, with a particular focus on residential and commercial buildings renovation. Commenting on the transaction, Eric Bergé, CEO of PAREX, said: “We are happy to enter Canada, our 24th country, and to strengthen our business with a complementary offer in North America. The CTM team brings in-depth technical expertise in epoxy and polyurethane based solutions”.
We warmly welcome Michael delle Donne, Managing Director, and the CTM team in the PAREX family.
The financial consideration for this acquisition is not disclosed.