MEDINA, OH - RPM International Inc. announced that its RPM2 business unit has signed a purchase agreement to acquire the Legend Brands group of companies, providers of equipment and solutions for water and fire damage restoration, professional cleaning and environmental control. Based in Burlington, WA, Legend Brands has annual sales of more than $70 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
"Many of the products and services within the RPM portfolio of companies have traditionally focused on protecting the built environment from harmful and corrosive elements," said Frank C. Sullivan, RPM Chairman and Chief Executive Officer. "Legend Brands will extend our reach a step further - to the restoration of property when the elements do infiltrate a structure. We will continue to seek acquisitions, like Legend Brands, that are in adjacent categories to our traditional markets, but still fit strategically."
Legend Brands is comprised of three companies: Dri-Eaz Products, a provider of tools for water damage restoration and environmental control; ProRestore Products, providing industry-leading odor, smoke and microbial control applications; and Sapphire Scientific, a provider of advanced carpet cleaning chemicals, tools and equipment.
Legend Brands has distribution in 15 countries and customers in 20 countries. It will remain a stand-alone operation within RPM2 and will continue to be led by its existing management team, headed by Bill Bruders, Chief Executive Officer.
RPM to Buy Restoration and Cleaning Solutions Business
September 27, 2011