RPM acquires manufacturer of specialty chemicals for the infrastructure industry
MEDINA, Ohio, Jan. 17, 2017 /PRNewswire/ — RPM International Inc. (NYSE: RPM) today announced that it has acquired Prime Resins to be part of its USL Group. Prime Resins is a manufacturer of specialty chemicals and equipment for infrastructure construction and repair. Headquartered in Conyers, Georgia, Prime Resins has annual net sales of approximately $7 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Prime Resins’ product line includes a broad range of polyurethane and epoxy grouts, foams, adhesives and coatings. They are primarily used for leak sealing, concrete structural repair, slab lifting and soil stabilization. Product applications include highways, roads, bridges, airport runways, sewage systems and retaining walls.
The USL Group is comprised of several business units that provide a wide array of coatings, products and services for infrastructure projects, including bridges, roadways and car parks. It is based in the U.K. and has operations across Europe, Asia, the Middle East and the U.S.
“Prime Resins will operate within our USL Group of companies and will continue to be led by its founder and president, David Barton,” stated Frank C. Sullivan, RPM chairman and chief executive officer. “We intend to drive its top-line growth by leveraging the Prime Resins sales force to bring more of USL’s differentiated product technologies to the U.S. infrastructure market. At the same time, we will improve its bottom line through access to RPM’s raw materials purchasing network.”
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, 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 and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president – investor relations, at 330-273-5090 or bslifstein@rpminc.com.
This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us, and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of banks and other financial institutions; (b) the prices, supply and capacity of raw materials, including assorted pigments, resins, solvents and other natural gas- and oil-based materials; packaging, including plastic containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) risks related to the adequacy of our contingent liability reserves; and (j) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2016, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
