Flowcrete acquires Norwegian waterproofing company
Under the terms of the acquisition, Elmico’s polyuria waterproofing systems will be launched globally through its parent company’s construction and chemical businesses
Flowcrete, part of The Euclid Group, has acquired Elmico, a Norway-headquartered manufacturer of polyuria waterproofing systems, and epoxy and polyurethane flooring systems.
Under the terms of the agreement, Elmico’s polyuria technology will be launched globally through its new parent company’s construction and chemical businesses.
The deal, which was finalised in Q2 2017, will see Elmico become part of Flowcrete Nordic, a division comprising Flowcrete businesses across Norway, Sweden, and Denmark.
Commenting on the acquisition, Elmico’s general manager, Elisabet Michelson, said: “Becoming part of Flowcrete represents a significant opportunity for Elmico.
“With the backing of Flowcrete and The Euclid Group, we will be able to introduce Elmico’s leading polymer products to more people and places than ever before. The growth potential, opportunities for collaboration, and support that this acquisition provides means that we are very excited for the future.”
Mark Greaves, president and chairman of The Euclid Group, added: “I am delighted that Elmico is joining Flowcrete and, by extension, The Euclid Group.
“This acquisition will strengthen Flowcrete’s business in Norway, and Elmico’s unique polyurea technology will be launched globally via The Euclid Group’s worldwide platform of construction chemical businesses.”
Founded in 2003, Elmico operates out of a 2,000m2 facility in Galterud, Sweden. The firm produces thermosetting plastic products for a variety of settings, including roofing, industrial flooring, parking garages, ship decks, bridges, quays, dams, tank installations, and pipes.
Craig Brookes, president of UK-headquartered Flowcrete, said: “We are overjoyed to welcome Elisabet Michelson and her team to the Flowcrete family. Elmico’s expertise and its fantastic new technology is second to none, and there are some very exciting plans in the pipeline, so watch this space.”
Based in Dubai’s Al Quoz area, Flowcrete’s Middle East office forms part of Flowcrete Europe & Middle East, one of the five divisions that comprise Flowcrete Group Ltd.