The transaction is foreseen to close in this year’s fourth quarter, subject to approval by antitrust authorities in the relevant countries.

Arkema said the acquisition should complement the organic growth of its Adhesive Solutions segment with high-quality bolt-on acquisitions and also increase this segment’s EBITDA margin to 16% by 2024. The plan also dovetails with its ambition to become a pure specialty materials player by 2024 with the three production segments of Adhesive Solutions, Advanced Materials and Coating Solutions.

With grinding, polymerization and compounding capacities, Fixatti develops and markets a diversified range of high-performance, environmentally friendly thermobonding powders from two sites in Europe and one in China. Arkema said the portfolio addresses many of the bonding issues arising in its customer sectors. The company with 180 employees last reported sales of around €55 million.

Fixatti's copolyester and copolyamide polymerization capabilities are also seen as presenting strong synergies with one of Bostik's historic areas of expertise. Adhesive films manufacturer Prochimir, acquired last year, has a portfolio said to complement the new acquisition from a geographic and technological standpoint.

Arkema said the acquisition plan is in line with its strategy to complement the organic growth of its Adhesive Solutions segment with high-quality bolt-on acquisitions. With a significant potential for synergies, the deal should also contribute to improving the segment’s EBITDA margin to 16% by 2024, it said.