June 12, 2019

Kevin Yttre
President & Managing Director

Grace Matthews Advises H.B. Fuller on the Divestiture of its Surfactants, Thickeners and Dispersants Business to Tiarco, LLC

Milwaukee, WI – H.B. Fuller Company (NYSE: FUL) announced today that it has signed an agreement to sell its surfactants, thickeners and dispersants business to Tiarco, LLC (“Tiarco”), a wholly owned subsidiary of Textile Rubber and Chemical Company, Inc., for $71 million. Grace Matthews advised H.B. Fuller Company on this transaction.

H.B. Fuller acquired the surfactants, thickeners and dispersants business through its acquisition of Royal Adhesives & Sealants in 2017. The business’ products include thickeners used in carpet, floor coatings, adhesive and caulk formulations, as well as surfactants used as detergents, wetting agents, and foam boosters in beauty and healthcare products.

The targeted transaction includes technologies, trademarks and transfer of H.B. Fuller’s production plant in Dalton, Georgia and is expected to close in the third quarter of H.B Fuller’s fiscal 2019.

“We see this transaction as a very favorable outcome for the business. The complementary nature of Tiarco’s location and product line, combined with the business’ strong sales and customer service, will allow the business to thrive within Tiarco’s global organization,” commented Andrew Cardona, Vice President at Grace Matthews. “We are truly excited for both parties involved.” 

Since 1887, H.B. Fuller has been a leading global adhesives provider focusing on perfecting adhesives, sealants and other specialty chemical products to improve products and lives. With fiscal 2018 net revenue of over $3 billion, H.B. Fuller’s commitment to innovation brings together people, products and processes that answer and solve some of the world’s biggest challenges. Our reliable, responsive service creates lasting, rewarding connections with customers in electronics, disposable hygiene, medical, transportation, aerospace, clean energy, packaging, construction, woodworking, general industries and other consumer businesses. And, our promise to our people connects them with opportunities to innovate and thrive. Learn more at

A subsidiary of Textile Rubber & Chemical Co., Inc., Tiarco, LLC is a privately owned, specialty chemical manufacturer servicing latex, grease & lubricant, water treatment, and oil & gas applications with chemistries that deliver the highest levels of cost performance. The company is active globally with global sales offices and distribution facilities worldwide to better serve our customers. Learn more at

Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies across the chemical and materials value chain. Grace Matthews is known globally for completing successful chemical industry transactions dating back to the early 1990s. Grace Matthews’ principals have completed over 100 transactions involving global corporations such as AkzoNobel, 3M, DuPont, Sherwin-Williams, PPG Industries, Ashland, ICI, Air Products, Landec Corporation, The Home Depot, Hexion Specialty Chemicals, Becker Industrial Coatings, RPM International, Weatherford, BASF, Lubrizol, WR Grace, Axalta, Eastman, and Hempel. For more detailed information on Grace Matthews, visit

Kevin Yttre, President & Managing Director

Andy Hinz, Managing Director

Andrew Cardona, Vice President

Courtney Browne, Analyst

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