RPM Signs Agreement to Acquire Leading Dutch Coatings Company
MEDINA, OH – RPM International Inc. 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.
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,” said 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.”
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