Sika has acquired HPS North America, distributor of the Schönox brand, in a move that will expand Sika’s U.S. presence in the building finishing segment.
The marriage between the companies continues a relationship that spans many years. Sika Germany manufactures Schönox-branded products for the U.S. market, and Sika has held a minority interest in HPS.
Thomas Trissl, president of TMT America, parent of HPS North America, said the company had reached a pivotal moment in its 14-year history and was the right time to sell. “We promised Schönox GmbH in Germany that we would make the Schönox brand top-of-mind and trusted by flooring professionals, readily available from coast to coast, and supported by an outstanding technical and logistics team,” Trissl said. “Having reached these critical milestones—and with an infrastructure positioned for growth firmly in place—it was the optimal time to transition the business to Sika.”
Fully integrating the Schönox brand into Sika U.S. is intended to create a strong platform for further expansion, according to Sika officials. HPS has successfully developed the Schönox business over the past years, significantly growing both sales and profitability. The products, which include self-leveling and waterproofing solutions, are sold through distribution and are mainly used in floor covering applications.
Since its acquisition of Parex in 2019, Sika has continuously increased its presence in the building finishing segment in the U.S. By acquiring Schönox, Sika stands to further expand its position in this growing market segment. “With the integration of the HPS business into our U.S. organization, we will be able to go full speed ahead in developing our business relationships and distribution networks in the building finishing area,” said Mike Campion, regional manager, Americas, Sika. “We are looking forward to combining our sales and marketing expertise to best serve our customers and warmly welcome the HPS employees to our Sika team.”
Key executives with Schönox will work with Sika management in a transition phase for a number of months. As for the fate of Schönox employees, spokesman Jeff Williams told FCNews, “I know that Thomas worked meticulously for several weeks on the employment issue, ensuring that the HPS North America employees would seamlessly move over to the new organization without loss of employment and benefits. This is one of those business transitions that should provide a model for others, demonstrating how the employees are taken care of by the seller.”
Trissl said that, as an entrepreneur, “you never want to let go of a brand you’ve developed, but this is the right time for the growth of Schönox, our customers and my colleagues. Today, I look fondly back on these 14 years and extend my heartfelt thanks and gratitude to the extraordinary Schönox team, our distributors who are partners and friends, and to the flooring professionals who risked giving Schönox a try and now trust its quality each day on every project across the U.S.—thank you one and all, you are the best.”
Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protection in the building sector and industrial manufacturing. Sika has subsidiaries in 102 countries and produces innovative technologies for customers worldwide.
Distribution synergies
Both companies go to market through distribution. In fact, 10 of the top 20 flooring distributors carry either Sika or Schönox; two of them—Tom Duffy (now part of Artivo Surfaces) and Ohio Valley Flooring—represent both.
“Sika is a valued partner with tremendous people and great products,” said Scott Rozmus, president of FlorStar Sales, Romeoville, Ill., and a Sika supplier. “Sika personnel have won FlorStar’s highest award given to vendor representatives, which underscores the caliber of their people. Obviously, Schönox is a separate business and business unit, so I’m happy for Sika and what this means for them … If Sika grows and gets more integrated with projects and customers as a result of this move, that certainly will help us.”
Gene Corvino, president of Charleston, S.C.-based William M. Bird, and Schönox distributor, said he expects business as usual. “We are excited to partner with Sika in this transition,” he said. “William M. Bird and its supply focused division—East Bay Supply—are anticipating a continued strong partnership with Sika as we’ve had for many years with HPS Schönox.”
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