IKO to acquire Axter from SMAC.

IKO, a provider of roofing and waterproofing solutions, agreed to acquire Axter, an importer and distributor of roofing and waterproofing products and building materials, from SMAC, a provider of engineering services. Financial terms were not disclosed. "IKO's purchase of AXTER's waterproofing membrane division will complement its industry leading position in the European waterproofing and insulation business, and add a leading player in the French market to IKO's growing international footprint. We are excited for the opportunity this acquisition presents for IKO both in France as well as our ability to leverage both AXTER's talent and technology across our global organization," Hartley Koschitzky, IKO CEO.