RPM Announces Acquisitions
MEDINA, OH - RPM International Inc. announced the acquisition of a civil engineering and construction company, and an Australian-based manufacturer of commercial waterproofing products.
Applied Polymerics Inc. & Marketing Associates Inc. (API/MAI), a specialist civil engineering and construction organization focusing on bridges, roads and major structures, has been acquired to be part of RPM International’s Universal Sealants (UK) Limited business within the RPM Performance Coatings Group. API/MAI manufactures, supplies and installs specialist construction products, including bridge expansion joints, concrete repair compounds, protective coatings and pavement preservation products. Based in Mount Airy, North Carolina, it has annual net sales of approximately $14 million.
"RPM's USL subsidiary, the UK's leader in bridge expansion joint and bridge repair, has a wide range of products and know-how that will enable API/MAI to expand its reach and become a national player throughout the U.S. in compatible market spaces," said Frank C. Sullivan, RPM Chairman and Chief Executive Officer. "API/MAI's historical track record with local Department of Transportation divisions will greatly accelerate acceptance in the market and provide the opportunity to sell high-value, differentiated technologies to solve larger and more complex bridge and road repair needs."
The existing management team, led by Jonathan Simmons and Mark O'Neal, will continue to lead the API/MAI organization.
RPM International Inc.'s Tremco Group has acquired the assets of Duram Industries Pty Limited, an Australian-based manufacturer of a comprehensive range of commercial waterproofing products with annual net sales of approximately $6 million.
Duram's liquid-applied waterproofing materials serve a broad array of above-grade waterproofing needs for brick, EIFS (exterior insulation and finish systems), stucco and noise-suppression walls. They are also utilized for horizontal and below-grade applications, including pedestrian, vehicular traffic, balcony and thin-set, as well as foundation waterproofing and split slab.
"Tremco intends to leverage its acquisition of Duram to broaden the geographic footprint of its commercial sealants and roofing systems in the Australian market," said Sullivan. "Duram's in-market manufacturing will provide expanded sourcing opportunities and higher customer service levels. At the same time, Tremco will leverage the combined resources to expand the reach of Duram's products throughout the country."