RPM Business Acquires UK-Based Provider of Drainage Systems
MEDINA, Ohio, Dec. 21, 2010 - RPM International Inc. (NYSE: RPM) today announced that its RPM Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd. (PDS), a leading supplier of curb, bridge and channel drainage products for construction and infrastructure markets, primarily in the United Kingdom and Ireland. Based in Wakefield, England, PDS has annual sales of approximately $8 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Founded in 2000, PDS is one of the United Kingdom's leading drainage systems specialists and offers complete solutions for projects, from the initial design and specification through supply and installation. Its Enviro line of products is made from recycled materials and offers significant weight, handling and cost advantages over traditional drainage systems. PDS will operate as a stand-alone business of Universal Sealants (UK) Ltd. (USL), an RPM subsidiary that supplies coatings and construction products for bridges and large infrastructure projects.
"We intend to leverage RPM's established sales and distribution network to take the PDS product line deeper into the European marketplace. In particular, this acquisition of PDS complements our USL business and strengthens its already strong position in the UK infrastructure market," stated Frank C. Sullivan, RPM chairman and chief executive officer. "We're pleased to have Chris Rothery, Greg Parkin and the entire PDS management team join the RPM family of businesses."
About RPM
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Universal Sealants and Euco. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors. Additional details are available at www.rpminc.com.
For more information, contact Robert L. Matejka, senior vice president and chief financial officer, at 330-273-5090 or rmatejka@rpminc.com.
SOURCE RPM International Inc.
CONTACT:
Robert L. Matejka,
senior vice president and chief financial officer,
+1-330-273-5090,
rmatejka@rpminc.com
Web Site: www.rpminc.com
