MEDINA, Ohio - Oct. 30, 2017 - RPM International Inc. (NYSE: RPM) today announced that its USL Group has acquired Ekspan Holdings Limited, a provider of movement control products and services for bridges and major structures. Headquartered in Sheffield, United Kingdom, Ekspan has annual net sales in excess of $10 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Established in 1990, Ekspan designs, manufactures and installs a range of specialty bridge bearings and expansion joints, as well as custom engineered solutions for bridges, high-rise buildings, wind turbines and other structures. Its products are used for new construction projects, as well as the refurbishment and replacement of existing installations. Among its high-profile projects is the iconic London Tower Bridge.
The acquiring entity, UK-based Universal Sealants (UK) Limited, is a specialist civil engineering and construction company focusing on bridges, tunnels, car parks, rail, airports and utility projects globally. It manufactures, supplies and installs construction products including bridge expansion joints, waterproofing membranes, protective coatings, structural drainage solutions, as well as a range of grouts, mortars, sealants and adhesives.
Ekspan is the third bolt-on acquisition for USL over the past 15 months. The others were U.S.-based businesses Prime Resins, a manufacturer of specialty chemicals and equipment for infrastructure construction and repair, and Applied Polymerics, Inc., a specialist civil engineering and construction organization focused on bridges, roads and major structures.
"Ekspan provides an opportunity to broaden USL's product offerings to include bearings for large structural movement control. By leveraging USL's wide geographic footprint, there are substantial opportunities to increase Ekspan's sales beyond its established customer base, especially in international markets," stated Frank C. Sullivan, RPM chairman and chief executive officer. "Ekspan's energetic management team will continue to run the business and drive its growth."
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.