Laticrete Expands Restoration and Decorative Product Lines with Acquisition of L&M Construction Chemicals
Words: Bronzella Cleveland
Laticrete International, Inc., has acquired L&M Construction Chemicals, Inc. (L&M). The acquisition will provide Laticrete customers access to new products and technologies while expanding the company's presence in the restoration and decorative concrete category. Headquartered in Omaha, Neb., L&M produces a diverse line of concrete construction chemicals, including coatings, sealers, construction grouts, patch and repair mortars, and color hardeners for polished concrete.
"This combination strengthens Laticrete and the L&M brands alike," said David A. Rothberg, chairman and CEO of Laticrete. "Through this acquisition, L&M's brand portfolio will gain access to Laticrete manufacturing capabilities, sales representation, marketing, and support services. Laticrete customers, in turn, will enjoy access to some of the most innovative decorative and restoration products on the market."
Over the past two years, Laticrete has expanded its restoration and decorative product line through strategic acquisitions and partnerships. This acquisition follows the 2011 acquisition of DRYTEK® Flooring Solutions, LLC and formation of the Laticrete Supercap, LLC joint venture.
"My family and I thank our customers, distributors and partners for their many years of support," said Greg Schwietz, owner of L&M. "This is a very exciting time for the L&M brand. I am confident we have found the right company in Laticrete to provide the best future support and growth opportunities."
Under the new ownership, the L&M brand and product portfolio will leverage the many resources and opportunities Laticrete offers, including: nationwide manufacturing facilities, an expanded team of sales representatives, global research and development capabilities, an enhanced architectural presence, and, access to a nationwide distribution system.
L&M's product lines will continue to carry the L&M name, and the company's manufacturing and sales functions will remain in Omaha. The acquisition is expected to take three months. Integration of manufacturing, sales and service functions will occur throughout 2014.