H.B. Fuller Company acquired Fourny NV for $18.2 million.
January 26, 2022
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H.B. Fuller Company (NYSE:FUL) acquired Fourny NV on January 11, 2022. In a related transaction, H.B. Fuller Company acquired Apollo on January 27, 2022. H.B. Fuller paid a combined consideration of $211 million, a multiple of 12.3X EBITDA before synergies for Fourny and Apollo. H.B. Fuller leveraged its existing revolving credit facility to finance these transactions, which have been approved by the Board of Directors. Fourny had sales of $9.10 million and EBITDA of $2.39 million in 2021. Annual run-rate synergies of $8 million are expected to be realized over the next three years, resulting in a post synergy multiple of 8.4X EBITDA. The transactions are expected to have a positive impact on H.B. Fuller's long-term growth rate and gross margin in its Construction Adhesives and Engineering Adhesives business units and be accretive to adjusted earnings per share in the first year following the close of the transaction. Faegre Drinker is acting as H.B. Fuller's legal counsel.
H.B. Fuller Company (NYSE:FUL) completed the acquisition of Fourny NV for $18.2 million on January 11, 2022. H.B. Fuller Company acquired Fourny for for a base purchase price of approximately $14.627 million, which was funded through existing cash. H.B. Fuller Company will pay an additional approximately $3.524 milion, 18 months following the date of acquisition.
H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Companyâs segments include Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. The Hygiene, Health and Consumable Adhesives segment manufactures and supplies adhesive products in the assembly, packaging, converting, nonwoven and hygiene, health and beauty, flexible packaging, graphic arts and envelope markets. The Engineering Adhesives segment provides adhesives to the transportation, electronics, clean energy, aerospace and defense, performance wood, insulating glass, textile, appliance and heavy machinery markets. The Construction Adhesives segment manufactures and provides specialty adhesives, sealants, tapes, mortars, grouts, and application devices for commercial building roofing systems, heavy infrastructure projects, road/highway/airport transportation applications, building envelope applications, and others.
H.B. FULLER COMPANY 
