RPM Acquires Canadian Pipeline Coatings Company
RPM International Inc. recently announced that it has acquired Specialty Polymer Coatings Inc.
RPM International Inc. recently announced that it has acquired Specialty Polymer Coatings Inc. (SPC), a Canadian manufacturer of high-performance coatings for the global oil and gas pipeline market with annual net sales of approximately $26 million. It will operate as a free-standing business within the RPM Performance Coatings Group and report through the Carboline Co. The transaction is expected to be accretive to earnings within one year.
“We already have a strong position in the U.S. oil and gas energy market through our Carboline business,” said Frank C. Sullivan, RPM chairman and CEO. “The acquisition of SPC complements that position by providing a proven, tenured technology with strong brand recognition for the pipeline industry. We intend to accelerate SPC's growth by leveraging Carboline's large global sales force. In keeping with our reputation as the best home for entrepreneurial businesses in our industry, several members of the current senior leadership under the founder, Bob Alliston, will continue to manage the business as part of RPM.”