RPM Acquires Leader in Tile and Grout Sealer Market
MEDINA, Ohio - Mar. 19, 2018 - RPM International Inc. (NYSE: RPM) today announced that its Rust-Oleum Group has acquired Miracle Sealants Company, a manufacturer of sealers, cleaners, polishes and related products primarily for tile and natural stone. Based in Arcadia, Calif., Miracle Sealants has annual net sales of approximately $25 million. Terms of the transaction, which is expected to be accretive to earnings within one year, excluding one-time, transaction-related costs, were not disclosed.
Miracle Sealants provides a broad range of professional grade care and installation products for natural stone, ceramic and porcelain tile, grout, brick and other masonry surfaces. A leading brand with professional installers for over 30 years, the company has broad national distribution in tile shops across the U.S., as well as big box retailers, such as Home Depot, Lowes and Menards. Among the company's leading products is 511 Impregnator, the industry standard in hard surface floor sealers.
"Miracle Sealants is an excellent strategic fit that adds another platform within Rust-Oleum's hard surface care product portfolio," stated Frank C. Sullivan, chairman and CEO of RPM. "Leveraging the Rust-Oleum global distribution, sales and marketing network will drive sales growth."
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, Euclid Chemical and RPM Belgium Vandex. 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, 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.
