RPM's Rust-Oleum Acquires Watco Group
Acquisition Strengthens Industrial Coatings Business in the United Kingdom
MEDINA, Ohio, July 25 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its subsidiary, Rust-Oleum Corporation
("Rust-Oleum"), has acquired the Watco Group ("Watco"), based in Godalming,
United Kingdom. Terms were not disclosed.
Watco has an 80-year history as a manufacturer and marketer of industrial
coatings, as well as being a leading supplier of concrete floor coatings in
the UK. Most of Watco's sales are made through its proprietary catalog
marketing system, which allows them to reach over 50,000 industrial
maintenance customers. In addition to selling products under the Watco brand,
they also sell under the Flowtop, Concrex, Safety Grip, Dustop, and Roofite
brands. Rust-Oleum, based in Vernon Hills, IL, is a leading provider of
specialty coatings used in both home and industry.
Watco has annual sales of approximately $20 million and is expected to be
accretive to earnings within the year.
"This acquisition is an excellent complement to our Rust-Oleum business in
Europe," said Frank C. Sullivan, RPM president and chief executive officer.
"We have expanded our technology base as well as gained a new channel of
distribution for Rust-Oleum's vast array of industrial coatings. This is
consistent with RPM's ongoing plan to acquire synergistic product lines and
businesses for our operating companies."
RPM International Inc., a holding company, owns subsidiaries that are
world leaders in specialty coatings and sealants 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, Day-Glo,
Euclid, and Dryvit. RPM's consumer products are used by professionals and do-
it-yourselfers for home maintenance and improvement, automotive and boat
repair and maintenance, and by hobbyists. Consumer brands include Zinsser,
Rust-Oleum, DAP, Varathane, Bondo, and Testors.
For more information, contact Glenn R. Hasman, vice president - finance
and communications, at 330-273-8820 or ghasman@rpminc.com.
SOURCE RPM International Inc.
CONTACT: Glenn R. Hasman, vice president - finance and communications of
RPM International Inc., +1-330-273-8820, or ghasman@rpminc.com
Web site: www.rpminc.com
