AAPH invested in ADBS, Expands Global Reach with Sealant Business Acquisition

AICA Asia Pacific Holding Pte. Ltd. (AAPH) has signed a share purchase agreement to acquire a 51% stake in ADB Sealant Co., Ltd. (ADBS), a subsidiary of Applied DB Public Company Limited (ADB). Following this capital increase, ADBS will have a registered capital of 645.09 million baht, enhancing its position as a key player in industrial adhesive and sealant manufacturing for various sectors, including real estate, construction, and electronics.
Recognised for its cutting-edge technology and over 40 years of expertise, ADBS manufactures and distributes a range of products, from industrial adhesives for shoes, furniture, and electronics, to sealants in both large and small packaging for DIY markets. The company operates globally, with a strong presence in ASEAN, the Middle East, Europe, Africa, and South America, and also offers OEM services for leading global brands.
AAPH, a wholly owned subsidiary of the century-old Japanese corporation AICA Kogyo Co., Ltd., aims to leverage this acquisition to meet growing customer needs with high value-added products. AAPH’s existing industrial adhesive operations have seen significant growth, with 21 subsidiaries and 22 plants across eight countries in the Asia Pacific region. Their chemical business is projected to grow by 10% annually, particularly in Indonesia and Malaysia, where the company holds a strong market position.
By incorporating ADBS’s sealant products into its portfolio, AAPH will expand its product range, enhance technological capabilities, and support market share growth. This vertical integration will strengthen supply chains and enable greater collaboration between the two companies, benefiting both their brands and networks across Thailand and overseas.
Wang Wanapaison, CEO of ADB and ADBS, expressed excitement about the partnership: “The merger with AICA Asia Pacific will drive exponential growth in the adhesive and sealant sectors, particularly in Indonesia and Malaysia, where there is high market potential. We are thrilled to partner with AICA Group, a world-class leader in adhesives and chemicals, to jointly promote and expand ADBS’s growth.”
The transaction is expected to close in the fourth quarter of 2024, with ADB retaining a 49% stake in ADBS. Both ADB and AAPH will manage the joint venture, driving mutual benefits and creating greater value for the group.