Subsidiary of RPM Acquires Australian Distributor
September 29, 2009
MEDINA, OH -- RPM International Inc., a specialty coatings and building materials and services holding company, has announced that its Stonhard subsidiary, part of RPM's Performance Coatings Group, has acquired Ascoat Contracting Pty. Ltd. and Ascoat Pty. Ltd., a supplier and installer of polymer flooring systems.
Based in Melbourne, Victoria, Australia, and with annual sales of approximately $5 million, Ascoat has been Stonhard's exclusive Australian distributor since 1996. Founded in 1988, Ascoat will continue to be led by its existing owners, John Black and Terry Callaghan.
Ascoat serves primarily industrial markets, with a focus on food processing, pharmaceutical and general manufacturing. Ascoat's capabilities include turnkey contracting, floor-care services, consultation, specification, installation and warranties.
"We see this acquisition as a near-term opportunity to broaden the base of our Stonhard business throughout Australia given Ascoat's strong base in Victoria," stated Frank C. Sullivan, RPM Chairman and Chief Executive Officer. "This will also give our Performance Coatings Group a strategic platform for further penetration of the Asia-Pacific region."