RPM Acquires Bridge and Highway Infrastructure Maintenance Business
MEDINA, Ohio, July 7, 2016 - RPM International Inc. (NYSE: RPM) today announced that Applied Polymerics, Inc. Marketing Associates, Inc. (API/MAI), a specialist civil engineering and construction organization focusing on bridges, roads and major structures, has been acquired to be part of its Universal Sealants (U.K.) Limited (USL) business within the RPM Performance Coatings Group. API/MAI manufactures, supplies and installs specialist construction products, including bridge expansion joints, concrete repair compounds, protective coatings and pavement preservation products. Based in Mount Airy, North Carolina, it has annual net sales of approximately $14 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
"RPM's USL subsidiary, the U.K.'s leader in bridge expansion joint and bridge repair, has a wide range of products and know-how that will enable API/MAI to expand its reach and become a national player throughout the U.S. in compatible market spaces," stated Frank C. Sullivan, RPM chairman and chief executive officer. "API/MAI's historical track record with local Department of Transportation divisions will greatly accelerate acceptance in the market and provide the opportunity to sell high value, differentiated technologies to solve larger and more complex bridge and road repair needs."
As is typical with many of RPM's acquisitions, the existing management team, led by Jonathan Simmons and Mark O'Neal, will continue to lead the API/MAI organization.
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, and Euclid Chemical. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors. RPM's specialty products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser, RPM Belgium, Legend Brands, Kop-Coat, and TCI. Additional details can be found at www.rpminc.com.
For more information, contact
Barry M. Slifstein,
vice president - investor relations,
at 330-273-5090 or bslifstein@rpminc.com.
SOURCE RPM International Inc.
