Sika completed its acquistion of Parex from CVC Capital Partners for $2.5bn

Sika, a Swiss specialty chemical company, completed its acquisition of Parex, manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars, from CVC Capital Partners "Parex is an excellent company with well recognized brands and an impressive performance track record. The businesses of Parex and Sika are highly complementary. Using Parex technologies as a growth platform in all our 101 countries and cross-selling of our products to the well established distribution channels of Parex will generate great profitable growth. Parex’s excellent facade business can be leveraged in the entire Sika world. We warmly welcome all employees of Parex to the Sika Family. We look forward to working with the Parex team and we are excited about expanding our joint business operations," Paul Schuler, Sika CEO.