RPM Acquires UK Industrial Tape Manufacturing Business
MEDINA, Ohio, Nov. 2, 2016 - RPM International Inc. (NYSE: RPM) today announced that it has acquired Adhere Industrial Tapes Ltd. to be part of its tremco illbruck business group. Adhere manufactures a wide variety of single- and double-sided foam tapes used in construction and industrial applications. Based in Colchester, in the United Kingdom, it has annual net sales of approximately $6 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
"Our tremco illbruck business has an extensive sales force and marketing resources that will help Adhere expand within the U.K. construction and industrial sectors and into other European markets as well," stated Frank C. Sullivan, RPM chairman and chief executive officer. "We intend to leverage Adhere's wide range of products and excellent customer service to generate significant new marketplace opportunities for tremco illbruck."
Headquartered in Cologne, Germany, tremco illbruck is a provider of high-performance sealing, bonding, flooring, waterproofing and passive fire protection products for the construction and manufacturing industries. Regarded as one of the innovation leaders in the sealing industry for the past 60 years, its specialized product brands include illbruck, Tremco and Nullifire for construction industries and Pactan for OEM manufacturers.
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.
