RPM Acquires Leading Specialty Mold Solutions Brand
December 17 2018 - 9:00AM
Business Wire
RPM International Inc. (NYSE: RPM) today announced that its
Rust-Oleum group has acquired Siamons International Inc., provider
of the Concrobium brand of non-toxic specialty mold cleaners. Based
in Ontario, Canada, Siamons has annual net sales of approximately
$20 million. Terms of the transaction, which is expected to be
accretive to earnings within one year, were not disclosed.
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Concrobium family of products (Photo:
Business Wire)
The Concrobium brand offers a wide range of non-toxic specialty
mold cleaning solutions that can be used on both porous and
non-porous surfaces, including wood, fabrics and drywall. It is
sold primarily in big-box retailers, such as The Home Depot, Lowe’s
and Menards. Among its leading products is Mold Control, the only
solution that eliminates mold, prevents its future growth and
cleans mold stains in one step, without the use of bleach, ammonia
or VOCs.
As part of this acquisition, Rust-Oleum will strengthen
Concrobium’s retail presence, introduce it to new market
categories, and leverage its customer base to accelerate
distribution of other specialty cleaning brands in Canada. In
addition, Rust-Oleum will expand Concrobium on an international
scale.
“The Concrobium brand is an excellent strategic fit that will
expand Rust-Oleum’s specialty cleaning product portfolio,
complementing its existing Krud Kutter, Mean Green, Roto-Rooter,
Whink, Jomax and Moldex brands and resulting in significant cost
synergies and enhanced supply chain efficiencies,” stated Frank C.
Sullivan, chairman and CEO of RPM. “The addition of Concrobium will
greatly enhance Rust-Oleum’s ability to offer a one-stop shopping
solution to its retail partners, ultimately making it a leader in
the specialty cleaning market.”
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 Russell L. Gordon, vice president
and chief financial officer, at 330-273-5090 or
rgordon@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, 2018, 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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version on businesswire.com: https://www.businesswire.com/news/home/20181217005095/en/
Russell L. GordonVice President and Chief Financial
Officer330-273-5090rgordon@rpminc.com
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