H.B. Fuller acquires Apollo
Based in Tamworth, UK, Apollo is projected to have 2022 revenue of approximately GPB 42 million (ca. EUR 50 million) and EBITDA of approximately GPB 11 million (ca. EUR 13 million). Apollo will operate within H.B. Fuller’s existing Construction Adhesives and Engineering Adhesives business units, and is expected to enhance H.B. Fuller’s position in key high-value, high-margin markets in the UK and Europe.
Apollo manufactures and sells a diverse range of commercial roofing, construction, and adhesives solutions. Apollo complements H.B. Fuller’s Construction Adhesives businesses in Europe and its recent addition in early January 2022 of Fourny in Belgium, which had 2021 sales of EUR 8 million and EBITDA of EUR 2.1 million. The addition of this business is inteded to expand the company’s share in key construction markets in the UK and across Europe and enable global expansion of its leading position in the roofing industry.
Total purchase price for the two acquisitions was USD 211 million (ca. EUR 187 million).