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RPM Performance Coatings Buys UK Drainage Maker

Monday, January 3, 2011

RPM Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd. (PDS), a UK-based supplier of curb, bridge and channel drainage products for construction and infrastructure markets, primarily in the United Kingdom and Ireland.

PDS has annual sales of about $8 million.

Founded in 2000, drainage systems specialist PDS provides products for every stage of such projects, from design and specification through supply and installation. Its Enviro line of products is made from recycled materials.

PDS will operate as a stand-alone business of Universal Sealants (UK) Ltd. (USL), an RPM subsidiary that supplies coatings and construction products for bridges and large infrastructure projects.

European Expansion Planned

“We intend to leverage RPM's established sales and distribution network to take the PDS product line deeper into the European marketplace.” said Frank C. Sullivan, RPM chairman and chief executive officer. “In particular, this acquisition of PDS complements our USL business and strengthens its already-strong position in the UK infrastructure market."

Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.

RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Universal Sealants and Euco.