RPM International Inc. recently announced that its Tremco business has acquired Schul International Co., LLC, a manufacturer of joint sealants for commercial construction, as well as Willseal LLC, a business that markets and sells Schul products. Both companies are headquartered in Hudson, N.H., and have combined annual net sales of approximately $15 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Schul’s product line primarily consists of pre-compressed, self-expanding foam tapes, which are used for sealing vertical and horizontal joints in applications that include window seals, precast concrete, modular construction, and concrete façade restoration. They are sold under the Sealtite and Willseal brands. Schul has developed a number of proprietary systems, including those that are fire rated to provide passive fire protection and others that are pre-coated with silicone to deliver weather-tight joints. Its systems are further differentiated by the use of monolithic foam vs. those made from several foam layers that are laminated together.
Schul and Willseal will be integrated into the Tremco Commercial Sealants & Waterproofing business. The companies’ leaders, Steve Robinson of Schul and Brian Iske of Willseal, will continue in their current roles with the business units as part of Tremco.
“The acquisition of Schul strengthens Tremco’s position as a global market leader and puts RPM in a leading position for impregnated foam tape technology,” said Frank C. Sullivan, RPM’s chairman and CEO. “Through this transaction, we are creating a platform for North American-based production, augmenting our product development capabilities and leveraging other synergies that will be further enhanced by our MAP to Growth operating improvement initiative. Schul’s well-recognized brands complement our existing product offering with new solutions, and we intend to drive revenue growth for Schul’s products by leveraging Tremco’s existing sales structure.”