Sika, a Swiss-based specialty chemicals company involved in the building sector and motor vehicle industry that makes its U.S. headquarters in Lyndhurst, announced Wednesday it has acquired DriTac, a Clifton-based company that is a highly regarded brand in the U.S. floor covering industry
Sika officials said the acquisition will contribute to Sika’s increased presence among floor covering installers and distributors, while accelerating Sika’s expansion in the interior finishing market in the U.S.
Sika is a leader in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and motor vehicle industry.
Sika officials feel DriTac, which has long-established customer and distributor relationships across the country that are highly complementary to Sika’s existing network, will help enhance Sika’s overall market access and market penetration.
“With this acquisition, Sika establishes a leading position in floor covering adhesives, especially for wood floors, in the U.S.,” Christoph Ganz, Sika Regional Manager Americas, said. “Expansion in interior finishing is a key growth initiative for Sika, and we are well-positioned to bring all our technologies, including the newly acquired range, to our customers in this large and attractive market.
“We welcome the new employees to the Sika family and look forward to further developing the business together.”
Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25,000 employees generated annual sales of approximately $8.4 billion in 2020.
Cole Schotz P.C., led by Jordan Fisch and Alan Rubin, represented DriTac in the deal.