BASF Completes Acquisition of Waterproofing Systems Supplier in US

BASF SE has completed the acquisition of Grupo Thermotek, a leading waterproofing systems supplier based in Monterrey, Mexico. The companies had announced the transaction on April 2017.

Through this acquisition, BASF’s construction chemicals division strengthens its channels to market and builds on its portfolio of brands for construction professionals.

Thermotek, founded as a privately held company in 1992, is well- positioned in the waterproofing systems market in Mexico. Its products are designed to offer maximum quality on virtually every type of substrate and include resinous and dispersion-based materials as well as modified asphalt sheet membranes. The company has more than 200 distributors in the region and employs approximately 500 people.

The transaction includes the well-known Thermotek and Chovatek brands, and others, which will continue to be sold through retail channels, material houses and local hardware stores.

“The acquisition of Thermotek enables us to continue on our growth path by bringing a robust portfolio of construction solutions to a broader customer base. This is an exciting time for our business and we welcome the Thermotek employees to the BASF family,” said Michael Stumpp, managing director BASF Mexicana SA de CV and Central America.