Follmann acquires the British adhesive manufacturer
With the official signing of the contract on 27 April 2018, Follmann has acquired the adhesive manufacturer Sealock Ltd. based in Andover. Sealock Ltd. develops, produces and sells hot-melts and water-based adhesives for the packaging industry, including for example PSA hot-melts which optimally complement Follmann’s portfolio. „The transaction matches perfectly with our growth strategy in adhesives” says Dr. Henrik Follmann, shareholder of the Follmann Chemie Group. „In selling these products through the Follmann organisation, we will be able to develop significant growth opportunities, especially for the German market, where Sealock Ltd. is not running any business activities yet. For this reason, the outlined strategy will strengthen the position of both Sealock Ltd. and Follmann.”
Dr. Henrik Follmann, John Young, Dr. Thomas Damerau and Chris Young (from left).
Follmann GmbH & Co. KG
Sealock was founded in 1983 by John Young. In recent years his son Chris Young has lead the family-run company as Managing Director. „We are happy that Chris Young will also lead Sealock Ltd. in the future. His know-how will give new impulses to the Follmann adhesive business”, so Dr. Henrik Follmann. The Board of Directors will consist of Chris Young, Rob Ladd (Finance Director) and Dr. Thomas Damerau (Representative of Follmann Chemie Group).
Sealock Ltd. currently employs 20 people and achieves an annual turnover of about 6 Mio Euro. The company runs a 100 % subsidiary in Poland and holds shares in adhesive companies based in France (Sealock Sarl) and Russia (Intermelt ZAO).
Other news from the department business & finance
