Tremco Group Acquires Tape Maker

TUESDAY, NOVEMBER 15, 2016


RPM International Inc. has announced an addition to its tremco illbruck Group with the acquisition of U.K.-based Adhere Industrial Tapes Ltd.

The Medina, OH, holding company announced the deal Nov. 2. RPM owns subsidiaries that manufacture and market high-performance coatings, sealants and specialty chemicals.

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

Construction, Industrial Tapes

Headquartered in the town of Colchester in Essex, England, Adhere manufactures a wide variety of single- and double-sided foam tapes used in construction and industrial applications.

Since it began operation in 1989, the company has grown its range of tape offerings, and manufactures 90 percent of its products in-house at its Colchester factory, according to its website.

Adhere reports annual net sales of approximately $6 million, RPM said in its statement.

During the transition, Adhere’s business will become part of tremco illbruck’s North Europe Business Unit under the leadership of Richard Hill, managing director North Europe & Asia, Adhere said in its announcement of the purchase.

Alan Shepherd, Adhere’s current owner and managing director, has agreed to stay on with the business during the integration phase, and the existing management team will remain with the business.

All commercial transactions will continue to go through the Colchester office, and daily business contacts remain unchanged, the manufacturer said.

"Former customers of Adhere will greatly benefit from the integration of the company into the tremco illbruck Group,” Hill said in the tremco illbruck announcement.

“The tried-and-tested­ tapes that they are familiar with will still be available, and will be [complemented] by relevant products from tremco illbruck's product range,” he added, noting “tremco illbruck's European customers will now also be able to benefit from Adhere's expertise."

New Marketplace Opportunities

Tremco illbruck, based in Cologne, Germany, is a provider of high-performance sealing, bonding, flooring, waterproofing and passive fire protection products for the construction and manufacturing industries.

Adhere headquarters

All commercial transactions will reportedly continue to go through the Colchester office, where Adhere is headquartered, and the existing management team will remain with the business.

It reportedly employs 1,100 workers at 25 locations worldwide and generates annual revenues of €315 million (about $347 million).

Active in the sealing industry for the past 60 years, its specialized product brands include illbruck, Tremco and Nullifire for construction industries and Pactan for OEM manufacturers.

"Our tremco illbruck business has an extensive sales force and marketing resources that will help Adhere expand within the U.K. construction and industrial sectors and into other European markets as well," stated Frank C. Sullivan, RPM chairman and chief executive officer.

"We intend to leverage Adhere's wide range of products and excellent customer service to generate significant new marketplace opportunities for tremco illbruck," he added.

About RPM

RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments.

RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete and Euclid Chemical.

RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors.

RPM's specialty products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser, RPM Belgium, Legend Brands, Kop-Coat and TCI.

   

Tagged categories: Acquisitions; Business matters; Coatings Technology; RPM; Tape; Tremco

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