"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's manufacturing capabilities, sales representation and marketing and support services. Laticrete's 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 new acquisition comes on top of the 2011 acquisition of Drytek Flooring Solutions, LLC and formation of the Laticrete SuperCap joint venture.
L&M, a family owned business, manufactures and sells concrete construction chemicals, including coatings, sealers, construction grouts, patch and repair mortars as well as color hardeners for polished concrete. "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 of Laticrete, 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, Laticrete's global research and development capabilities, world-class marketing and technical services, access to global markets, an enhanced architectural presence and access to Laticrete's 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, NE.