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Takeover-Hungry RPM Names New Development Chief

Wednesday, January 18, 2012

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Swallowing a new company about every other month now, RPM International Inc. has named Scott Copeland director of corporate development to focus on its acquisition program.

The booming Ohio-based holding company owns Carboline, Stonhard, Tremco and many other prominent protective and specialty coating, sealant and building materials brands and companies.

Copeland joins RPM from PricewaterhouseCoopers LLP (PWC), where he was director, transaction services. There, he worked on a wide variety of domestic and international acquisitions and divestitures—including more than 30 transactions for RPM.

Before working for PWC, Copeland was an auditor at KPMG in Cleveland. He holds a bachelor’s degree in economics and accounting from Miami University in Oxford, OH.

‘Robust Acquisition Program’

Acquisition activity has been brisk at RPM and played a significant role in the company’s recent financial report.

On Jan. 5, RPM reported a strong showing for the first half of fiscal year 2012, with net sales up 10.5% to $1.90 billion compared to the first half of FY 2011.

 RPM chairman and CEO Frank C. Sullivan

 RPM International

RPM chairman and CEO Frank C. Sullivan has promised a “robust acquisition program.”

Although RPM acknowledged that its recent acquisitions had impacted its bottom line, chairman and CEO Frank C. Sullivan said the company’s cash and liquidity positions would enable it “to continue a more robust acquisition program.”

How robust has that program been?

From December 2010 to December 2011, RPM acquired six companies from Germany, Spain, Italy, the United States and the UK and increased its stake in a company in India.

M&A Activity

Here’s a quick look at RPM’s latest acquisition activity. None of the terms of the transactions were disclosed.

Dec. 1, 2011: RPM’s Building Solutions Group announces the purchase of FEMA Farben + Putze GmbH, a German manufacturer and supplier of External Insulating and Finishing Systems (EIFS) with annual sales of more than $40 million.

FEMA’s products complement those of RPM’s Tremco illbruck, providing a platform to extend the newly acquired lines throughout Europe, Sullivan said.

Oct. 5, 2011: RPM’s Performance Coatings Group announces the acquisition of the Grupo P&V group of companies, a leading European vertically integrated supplier of passive fire protection and insulation products based in in Barcelona, Spain. Grupo has annual sales of about $23 million.

 LNG tank

 Grupo P & V

RPM’s recent acquisitions include Grupo P&V, specializing in products for passive fire protection, and cryogenic and heat insulation. The company’s projects include this LNG tank in Murcia, Spain.

Sept. 22, 2011: The RPM2 business unit announces an agreement to acquire the Legend Brands group of companies of Burlington, WA. With more than $70 million in annual sales, Legend Brands provides equipment and solutions for water and fire damage restoration, professional cleaning and environmental control.

The Legend companies—Dri-Eaz Products, ProRestore Products, and Sapphire Scientific—complement RPM’s line of protective products by extending the protective concept “to the restoration of property when the elements do infiltrate a structure,” said Sullivan.

He added, “We will continue to seek acquisitions, like Legend Brands, that are in adjacent categories to our traditional markets, but still fit strategically.”

Aug. 3, 2011: RPM’s Performance Coatings Group announces the purchase of API S.p.A., a $28 million producer and installer of polyurethane and urethane-based flooring and decking for cruise ships, mega-yachts and naval applications. The company, based in Genoa, Italy, also produces epoxy and polyurethane flooring systems for the Italian building market.

“API enhances RPM's presence in the decorative flooring market and will complement the strengths of our Stonhard and Flowcrete commercial polymer flooring businesses,” said Sullivan.

May 13, 2011: RPM says it will increase its minority ownership interest in Kemrock Industries and Exports Ltd. Based in India, Kemrock is a fully integrated fiberglass reinforced plastic composites manufacturer with more than $200 million in annual sales.

Feb. 10, 2011: RPM’s Euclid Chemical Company (a division of RPM Building Solutions Group) announces the purchase of PSI Packaging Inc. (PSI), a producer of micro- and macro-fibers for the ready-mixed and pre-cast concrete market. Based in LaFayette, GA, PSI has about $6 million in annual sales.

Dec. 21, 2010: The Performance Coatings Group announces the acquisition of Pipeline & Drainage Systems Ltd. (PDS), a leading supplier of curb, bridge and channel drainage products for construction and infrastructure markets in the UK and Ireland. PDS has annual sales of about $8 million.


Tagged categories: Acquisitions; Business operations; Carboline; Mergers; Personnel; RPM; Stonhard

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