Henkel signs agreement to acquire Seal for Life Industries

Seal for Life is a specialised supplier of protective coating and sealing solutions in a broad variety of infrastructure markets such as renewable energy, oil & gas, and water. The company operates globally and has generated sales of approximately €250 million in 2023. Financial details of the transaction were not disclosed.

Driven by ageing infrastructure and an increasing relevance of sustainability, the demand for solutions that enable the extension of asset life of infrastructure is continuously growing. With Seal for Life, which provides proven innovative coating and sealing solutions for both existing and new build infrastructure assets, Henkel adds attractive technologies to its growing MRO platform.

“Strategic acquisitions to actively shape and strengthen our portfolio are an integral part of our Purposeful Growth Agenda. Seal for Life offers an attractive and highly profitable portfolio in protective coating and sealing, perfectly complementing our existing platform for the maintenance, repair and overhaul market. With this transaction we will further enhance our product portfolio in this attractive market and unlock even greater growth potential for our leading Adhesive Technologies business,” said Henkel CEO Carsten Knobel.

In 2023, Seal for Life reported sales of around €250 million. The company employs more than 650 people and has a global production network. The business offers innovative coating and sealing products such as heat-shrink sleeves, visco-elastic coatings, epoxy & urethane coatings, fire protection, insulation and sound dampening coatings. The application expertise of these solutions, marketed under different industry-leading brands including STOPAQ^®, CANUSA^®, COVALENCE^®, LIFELAST^®, is a pioneer in the protection and retrofitting of a variety of customer infrastructure, including pipelines and piles.

“Maintenance, repair and overhaul (MRO) is a strategic growth market for us, offering great opportunities for innovative solutions that help protecting, retrofitting and digitally-enabled condition monitoring of infrastructure and at the same time contributing to sustainability. This transaction marks another building block in creating and developing a growth platform in our MRO business. It will enable us to further expand our offering in sustainability-driven, future-oriented markets such as renewable energy and water supply,” said Mark Dorn, Executive Vice President and responsible for Henkel’s Adhesive Technologies business.

Read the article online at: https://www.worldpipelines.com/business-news/15022024/henkel-signs-agreement-to-acquire-seal-for-life-industries/