RPM Acquires UK Market Leader in Fire-Stopping Solutions
MEDINA, Ohio –Â RPM International Inc. (NYSE: RPM) today announced that its tremco illbruck Group has acquired Firetherm Intumescent Insulation Supplies Ltd., the United Kingdom market leader in fire-stopping solutions for the construction industry. Based in Kent, near London, England, Firetherm has annual net sales of approximately $10 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Firetherm manufactures and supplies a broad range of fire-stopping products, intumescent coatings, and fire-rated sealants and fiber boards. They are primarily sold to specialist fire-stopping contractors, general contractors and home builders who view the company as a leading technical expert in the sector.
"Firetherm, with its high degree of fire-stopping technical expertise, is a good strategic fit with our tremco illbruck Group and its existing Nullifire intumescent coatings business. The acquisition expands tremco illbruck's product range and capabilities for fire-stopping products and propels it to the leading position for passive fire protection in the UK," stated Frank C. Sullivan, RPM chairman and chief executive officer. "We expect to grow Firetherm in the UK and internationally by leveraging its products across the tremco illbruck distribution network."
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services for both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Day-Glo, Dryvit 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. Additional details can be found at www.RPMinc.com.
For more information, contact Barry M. Slifstein, vice president - investor relations and planning, at 330-273-5090 or bslifstein@rpminc.com.
SOURCE RPM International Inc.
