H.B. Fuller acquires Wisdom Worldwide Adhesives
H.B. Fuller Company announced the purchase of the industrial adhesives business of Wisdom Worldwide Adhesives for $122 million.
Headquartered in Elgin, Illinois, Wisdom is a provider of adhesives for the packaging, paper converting, and assembly markets. The company generated revenue of approximately $100 million and EBITDA of $11 million in fiscal 2016. The business will be included in H.B. Fuller’s Americas Adhesives operating segment.
“We are pleased to welcome the employees and customers of this 140 year old company to H.B. Fuller. Wisdom’s highly successful go-to-market strategy, based on a focused product line, ultra-fast delivery and virtual service, will complement H.B. Fuller’s full value solutions. The acquisition will strengthen our leading position in this market segment within the Americas adhesive business,” said Jim Owens, president and CEO, H.B. Fuller. “The combination of H.B. Fuller and Wisdom provides significant cost synergy opportunities combined with some growth opportunities related to the complementary operating model and customer bases of the two companies. This acquisition will enhance and strengthen the delivery of our 2020 strategic plan commitments.”