Featured Company News - RPM Acquires Leading Polymer Flooring Manufacturer, Key Resin Co.
Research Desk Line-up: PPG Industries Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for RPM International Inc. (NYSE: RPM) ("RPM"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RPM. The Medina-based Company announced on July 21, 2017, that it has acquired Key Resin Co., a manufacturer of polymer flooring and coating systems. Following the acquisition, Key Resin will operate as one of RPM's Euclid Group of companies. Terms of the transaction remain undisclosed, but the transaction is expected to be accretive to earnings within one year. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Euclid Group is a world-leading manufacturer of specialty chemical products for the global construction and engineering industries. Its global product portfolio includes admixtures, concrete fibers, grouts, mortars, screeds, adhesives, concrete sealers, protective coatings, flooring systems, and waterproofing membranes among many other construction products.
Deal Supports Expansion of Euclid Group's Flooring Systems Offering in North America
Commenting on the acquisition, Frank C. Sullivan, Chairman and Chief Executive Officer of RPM, stated:
"Key Resin fits right within our sweet spot for acquisitions. It's a well-run, family-founded specialty coatings business that is a market leader."
He further added:
"This transaction expands our Euclid Group's flooring systems product offering and market share in North America, and positions it as a significant player in terrazzo flooring. Key Resin will continue to be run by Jeff Cain, a second-generation family leader of the business, and his strong management team."
Past Acquisitions
RPM enters into acquisition agreements with the companies that fit within its portfolio of coatings businesses.
RPM signed an agreement to acquire SPS Group, a leading Dutch coating company, on December 21, 2016. As a result of the acquisition, SPS operates as part of RPM's Rust-Oleum European business.
On January 04, 2017, RPM announced the acquisition of the foam division of Clayton Corporation, best known for its consumer polyurethane foam brand Touch 'N Foam. This acquisition became part of RPM's DAP business.
RPM acquired two businesses, a manufacturer of commercial floor cleaning equipment and chemicals, and a manufacturer of specialty chemical raw materials, on January 05, 2017. The companies had combined annual net sales of approximately $42 million.
On January 17, 2017, RPM acquired Prime Resins, specializing in the manufacture of specialty chemicals and equipment for infrastructure construction and repair.
About RPM International Inc.
RPM owns subsidiaries that manufacture and market high-performance coatings, sealants, and specialty chemicals, primarily for maintenance and improvement application, including specialty paints, protective coatings, roofing systems, sealants, and adhesives. The Company operates through three segments: the industrial reportable segment (industrial segment); the specialty reportable segment (specialty segment); and the consumer reportable segment (consumer segment).
Headquartered in Medina, United States, RPM operates 120 manufacturing facilities in 24 countries. The Company's operating groups include Tremco, Stonhard, Carboline and Tremco illbruck. The Specialty segment's operating groups are Day-Glo, Dryvit, Mohawk, and Petit.
About Key Resin Co.
Founded in 1993, Key Resin manufactures and markets terrazzo and resinous flooring, wall coating systems, concrete repair materials and maintenance products for industrial, and institutional and commercial applications. The Company sells directly to contractors and facility owners, enabling Key Resin to provide highly insightful and responsive customer service and technical support. Headquartered in Batavia, United States, the Company primarily serves the North American market.
Key Resin has annual net sales of approximately $25 million.
Last Close Stock Review
RPM Intl.'s share price finished yesterday's trading session at $50.87, dropping 6.95%. A total volume of 3.99 million shares has exchanged hands, which was higher than the 3-month average volume of 631.06 thousand shares. Shares of the Company have a PE ratio of 33.10 and have a dividend yield of 2.36%. The stock currently has a market cap of $6.79 billion.
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