RPM Inks Australian Waterproofing Deal
Seeking to widen their footprint in the Australian market, RPM and its Tremco Group have announced the acquisition of New South Wales-based Duram Industries Pty Ltd., a manufacturer of commercial waterproofing products.
Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
$6M in Sales
Duram, founded nearly 30 years ago, has annual sales of approximately $6 million, according to RPM.
The company’s liquid-applied waterproofing materials serve a broad array of above-grade waterproofing needs for brick, EIFS (exterior insulation and finish systems), stucco and noise suppression walls.
Duram’s products also are used in horizontal and below-grade applications, including pedestrian, vehicular traffic, balcony and thin-set, as well as foundation waterproofing and split slab.
“Due to a brand reputation for consistent, quality materials and exceptional service, the company has developed a loyal following of customers,” RPM noted in its announcement on the acquisition.
Increasing Presence in Australia
RPM Chairman and CEO Frank C. Sullivan stated, “Tremco intends to leverage its acquisition of Duram to broaden the geographic footprint of its commercial sealants and roofing systems in the Australian market.”
“Duram's in-market manufacturing will provide expanded sourcing opportunities and higher customer service levels. At the same time, Tremco will leverage the combined resources to expand the reach of Duram's products throughout the country.”
Tremco Group, based in Beachwood, OH, is a subsidiary of Medina, OH-based holding company RPM International. The group consists of operating divisions specializing in the manufacture and sale of roofing materials and services, construction sealants, glazing and gaskets, waterproofing systems, firestopping systems and a number of custom designed products, programs and services for the worldwide construction, maintenance and repair industries.