XYPEX acquired by TorQuest Partners

TorQuest Partners acquired Xypex Chemical Corporation, the Richmond-based maker of crystalline concrete waterproofing products, in a transaction announced on 26 April 2021. The Toronto private equity firm, which invests in mid-market Canadian companies in manufacturing, industrial products and chemicals, took control of a business then selling in more than 100 countries and employing around 170 people. Founded in 1968, Xypex makes admixtures, coatings, dry shakes and repair materials whose crystalline technology blocks water from penetrating concrete and reactivates to seal cracks when water returns. Its products are specified by engineers and architects on critical infrastructure, including water and sewage systems, transport networks, underground structures and marine works, both for new construction and for restoration. TorQuest set out to accelerate the company’s growth and extend its international presence, and appointed an independent director with experience of nineteen acquisitions, mostly at Sika, to its board. Under that ownership Xypex expanded abroad, including the purchase of its Australian distributor, before TorQuest sold the company to Saint-Gobain in October 2026.

In the past, Xypex was acquired by Saint-Gobain in 2026 as part of its expansion strategy.