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Carboline Acquires Strathmore, American Coatings

Friday, August 3, 2018

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Protective coatings manufacturer Carboline Company (St. Louis) announced Wednesday it has acquired coatings firm Strathmore and the American Coatings brand, which Strathmore acquired in 2014. 

Strathmore, a protective coatings supplier with a heavy focus on the rail industry, brings with it American, which provides interior and exterior coatings for structures including chemical plants, oil and gas facilities and assets (including pipelines), transportation and railcar, as well as repair coatings for tanks. 

Carboline
Carboline Company

Carboline announced it has acquired Strathmore and the American Coatings brand.

Strathmore will be a stand-alone brand under the Carboline banner, according to the company. While Carboline will diversify with the addition of Strathmore, Strathmore will benefit from the distribution and research and development resources of the larger Carboline. 

“We are thrilled to add these well-respected brands to our portfolio. It is a great strategic fit for Carboline and we look forward to leveraging the synergies between our brands to better serve our customers’ needs,” said Chris Tiernay, President of Carboline.

Carboline is part of RPM International, a Medina, Ohio-based holding company with properties throughout the paints and coatings industry. RPM is currently instituting operational changes to improve its efficiency and shareholder value, in part as a response to activist shareholder Elliott Management, which the company says encouraged executives to take steps to improve the company's margins. 

RPM recently reported an increase in net sales, but a dip in net income, in the fourth quarter of its 2018 fiscal year. 

   

Tagged categories: Acquisitions; Carboline; Oil and Gas; Rail; Railcars

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