W. R. Grace on Wednesday announced the acquisition of Chemind Construction Products, a privately-held specialty manufacturer and distributor of waterproofing coatings technologies and materials for the design and construction industry.
Chemind is headquartered and conducts research and development (R&D) and manufacturing operations in Brisbane, Australia.
Financial terms were not disclosed.
The acquisition will become part of Grace Construction Products (GCP), a leading global provider of construction chemicals and building materials that enhance the durability, strength and appearance of structures all over the world.
In 2012, GCP posted sales of $1.0 billion.
Chemind adds new waterproofing technology to Graces global construction products portfolio and establishes the companys first waterproofing R&D and manufacturing facility in Australia.
The new site will produce waterproofing materials for repair, maintenance and improvement markets as well as for new construction.
Chemind formulates and manufactures specialty, high performance waterproof coatings that protect and preserve as well as improve the integrity, performance, and life of commercial, residential, and civil structures. Chemind also distributes a broad range of waterproofing coatings and materials, including Graces own waterproofing solutions, throughout Australia.
Cheminds products are highly complementary to Graces waterproofing product and technology portfolio, said Adam Grose, vice president and general manager of Asia business for Grace Construction Products. This acquisition is consistent with our strategy to expand our waterproofing business globally.