RPM Acquires Indoor Air Quality Services Business
August 02 2021 - 4:53PM
Business Wire
RPM International Inc. (NYSE: RPM) today announced that its
Tremco Construction Products Group has acquired Pure Air Control
Services, Inc., a provider of indoor air quality solutions.
Headquartered in Clearwater, Florida, Pure Air has annual net sales
of approximately $10 million. Terms of the transaction were not
disclosed.
Founded in 1984, Pure Air offers a full range of turnkey
solutions to indoor air quality concerns, including environmental
consulting, building diagnostics, and laboratory services, as well
as HVAC system hygienic cleaning and restoration. Its senior indoor
air quality staff includes industrial hygienists, certified indoor
environmental consultants, microbiologists and building remediation
technicians. The business primarily serves governmental agencies,
educational institutions, commercial properties, energy engineering
firms and other mechanical contractors. Over the course of its 37
years in business, Pure Air has serviced more than 10,000 buildings
encompassing 600 million square feet of space. Pure Air will become
part of Tremco Roofing and Building Maintenance’s affiliated
construction services company, Weatherproofing Technologies
Inc.
“Pure Air represents a strategic and synergistic service-related
business for Tremco Roofing and our Construction Products Group.
Combined, these complementary businesses have greater horsepower to
penetrate vertical markets,” stated Frank C. Sullivan, RPM chairman
and CEO. “We look forward to working with Pure Air founder Alan
Wozniak and his management team to swiftly scale the business by
leveraging our North American sales force, strategic partnerships
and operational infrastructure.”
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services. The company operates across four reportable segments:
consumer, construction products, performance coatings and specialty
products. RPM has a diverse portfolio with hundreds of
market-leading brands, including Rust-Oleum, DAP, Zinsser,
Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and
Dryvit. From homes and workplaces, to infrastructure and precious
landmarks, RPM’s brands are trusted by consumers and professionals
alike to help build a better world. The company employs 15,500
individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Russell L. Gordon, vice president
and chief financial officer, at 330-273-5090 or
rgordon@rpminc.com.
Forward-Looking Statements
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 availability of raw materials, including
assorted pigments, resins, solvents, and other natural gas- and
oil-based materials; packaging, including plastic and metal
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) the timing of and the realization of
anticipated cost savings from restructuring initiatives and the
ability to identify additional cost savings opportunities; (j)
risks related to the adequacy of our contingent liability reserves;
(k) risks relating to the Covid pandemic; (l) risks related to
adverse weather conditions or the impacts of climate change and
natural disasters; and (m) 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, 2021, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210802005758/en/
Russell L. Gordon vice president and chief financial officer
330-273-5090 rgordon@rpminc.com
RPM (NYSE:RPM)
Historical Stock Chart
From Jun 2024 to Jul 2024
RPM (NYSE:RPM)
Historical Stock Chart
From Jul 2023 to Jul 2024