Hot melt adhesive manufacturer Beardow Adams has acquired a 45% stake in its Spanish partner Paniker SL.
Paniker, based near Barcelona, manufactures water-based dispersions, epoxy resins and solvent-based adhesives.
Paniker chairman Luis Segui said the pooling of the two companies’ expertise would help in developing innovative products and increasing their market share.
Beardow Adams marketing director Nick Beardow said the cost of acquiring the stake was not being disclosed, although it was ‘reasonably substantial’.
