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RPM’s Stonhard Buys Australian Distributor

Wednesday, September 23, 2009

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RPM International Inc., a worldwide holding company, announced today that its Stonhard subsidiary has acquired Australian-based Ascoat Contracting Pty Ltd and Ascoat Pty Ltd, a supplier and installer of polymer flooring systems.

Part of RPM’s Performance Coatings Group, Stonhard serves the industrial market. Ascoat primarily serves industrial markets, with a focus on food processing, pharmaceutical, and general manufacturing. Its capabilities include turnkey contracting, floor care services, consultation, specification, installation, and warranties.

Headquartered 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, according to RPM.

“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,” said Frank C. Sullivan, RPM chairman and chief executive officer.

RPM (Medina, OH) owns subsidiaries that focus on specialty coatings, sealants, building materials, and related services for the industrial and consumer markets.

For more information, go to www.rpminc.com.

   

Tagged categories: Acquisitions; Ascoat; Mergers; RPM; Stonhard

Comment from Joe Lyons, (9/24/2009, 10:54 AM)

We did 4 million with mfg and appx $1million in sales with our 4 new stores this year. We are talking to a couple of companies who want to merge and we then would have 8-10 million in rev. with a 200+ chain talking to us about using our talents and companys to help take the world of concrete for them to next level. We already have two Billion dollar + companys kicking our tires. RPM would work because they are a holding co. We simply need $$ to grow and expand business. Thanks Joe Lyons 903 445 9441


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