GCP Applied Technologies Acquires Ductilcrete Technologies
Cambridge, MA (GLOBE NEWSWIRE) -- GCP Applied Technologies Inc. (NYSE:GCP) announced today that it has completed the acquisition of Schaumburg, Illinois- based Ductilcrete Technologies (“Ductilcrete”) a technology leader for concrete flooring systems, for $32 million.
Ductilcrete is best known for its patented technology which enables the placement and long-term performance of smooth and level floors, a necessity in modern industrial and commercial buildings. The flooring system provides customers with more sustainable, cost-effective, low-maintenance surfaces with a higher load-bearing capacity than traditional construction. Since it commenced operations in 2012, Ductilcrete has completed over 400 projects and placed over 125 million square feet of flooring using its system. Ductilcrete’s management team members, led by founder Greg Scurto, are expected to continue in their roles to grow the Ductilcrete business within GCP.
“This acquisition aligns with our strategic plan for the continued expansion of our technology platform with new product categories and engineered systems for an even wider range of customers,” said GCP President and Chief Executive Officer Gregory E. Poling. “Our concrete materials expertise combined with our deep understanding of the specifier, developer and owner will create new opportunities and accelerate the penetration of this system.”
GCP expanded its range of products for flooring last year with the acquisition of the KOVARA™ moisture barrier flooring membrane (formerly known as VERSASHIELD®). The Ductilcrete engineered floor system complements GCP’s existing flooring solutions, which include shrinkage-reducing admixtures and fibers, as well as its expertise in the specification and engineering of concrete materials and technologies. Ductilcrete’s system is installed by its network of licensed contractors, and the system offers labor and time savings while providing customers with higher quality flat floors.
“GCP professionals bring together our industry-leading products, technology, service, and expertise from all areas of the Company to support engineering teams through the full span of a project,” said Rick Mihevc, GCP’s Sales Director, Design Advantage. “The Ductilcrete acquisition reflects our commitment to support customers with innovative, market-leading, and integrated solutions.”