MEDINA, Ohio, Dec. 21, 2016 /PRNewswire/ -- RPM
International Inc. (NYSE: RPM) today announced that it has signed
an agreement to acquire SPS Group (SPS), a Dutch decorative and
specialty coatings company with annual net sales of approximately
$60 million. Located about an hour
south of Amsterdam in
's-Hertogenbosch, the Netherlands,
SPS will operate as part of RPM's Rust-Oleum European business.
Terms of the transaction were not disclosed. It is expected to be
accretive to earnings within one year, excluding one-time
costs.
SPS offers a complete line of topcoats for interior and exterior
walls, primers, lacquers, floor and roof coatings, metal coatings,
wood stains and finishes, plasters and more. Its major customers
are large home center chains and builder merchants based in
the Netherlands. Its products are
used by painters, plasterers, industry and do-it-yourselfers.
"By leveraging the manufacturing and distribution strengths of
SPS, we expect this acquisition to accelerate Rust-Oleum's growth
in the Netherlands and other
nearby European countries," stated Frank C.
Sullivan, RPM chairman and chief executive officer. "It will
also allow the existing customer base of SPS to benefit from
Rust-Oleum technologies and innovations."
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.
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SOURCE RPM International Inc.