Henkel Boosts Market Standings by Procuring Expert in Advanced Composite Repair and Reinforcement Solutions
- 09-Nov-2023 12:42 PM
- Journalist: Gabreilla Figueroa
Henkel, a global leader in adhesive technologies, has announced its acquisition of Critica Infrastructure, a US-based specialist supplier of maintenance, repair, and overhaul (MRO) composite solutions. Critica is renowned for its innovative work on critical infrastructures such as oil and gas transmission and municipal water supply systems. The company operates globally, with a strong presence in North America and is projected to achieve sales of approximately $110 million in 2023.
The acquisition comes at a time when the demand for repair solutions that prolong asset life is on the rise, triggered by the aging of infrastructure and the growing emphasis on sustainability. MRO solutions for industrial and municipal applications have thus become increasingly crucial. Over the past years, Henkel has been broadening its MRO portfolio. The addition of Critica, an adjacent business with an impressive, innovative, and certified array of composite repair and reinforcement products, will further strengthen this portfolio.
The CEO of Henkel, Carsten Knobel, expressed the strategic significance of this acquisition. He conveyed that the transaction was a crucial move to considerably fortify their maintenance, repair, and overhaul portfolio in a rapidly expanding market. This would be achieved by broadening their offerings with innovative solutions in closely related application areas. He further communicated that their goal was to establish a new platform that would facilitate the inclusion of more related businesses, trigger additional growth, and bolster their status as a global forerunner in the adhesive technologies market.
The acquired business is expected to report sales of about $110 million in fiscal 2023. It employs approximately 250 people and operates eight production sites, most of which are located in the US. Critica supplies products to roughly 3,000 asset owners, contractors, and distributors. Its portfolio includes composite wrap and reinforcement solutions, as well as insertion valves for oil and gas transmission, refining, chemical, and water supply systems.
Mark Dorn, the Executive Vice President in charge of Henkel's Adhesive Technologies business, conveyed his excitement about the acquisition. He shared his anticipation for the chance to incorporate a robust and innovative portfolio of rapidly growing and highly profitable MRO solutions into their Adhesive Technologies business. Dorn also highlighted that the transaction would facilitate the creation of a growth platform for their MRO business, providing them with access to top-tier maintenance service providers, contractors, and trailblazing, certified technologies for critical infrastructure.
This acquisition is a significant milestone for Henkel, as it not only strengthens its current MRO portfolio but also opens up new avenues for expanding its offerings. The move is expected to stimulate further growth and solidify Henkel's position as a global leader in adhesive technologies. Additionally, by incorporating Critica's innovative and certified technology, Henkel is also contributing to the broader sustainability movement, which is a key focus for businesses worldwide.