RPM International (RPM) Acquires Adhere Industrial Tapes
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RPM International Inc. (NYSE: RPM) announced that it has acquired Adhere Industrial Tapes Ltd. to be part of its tremco illbruck business group. Adhere manufactures a wide variety of single- and double-sided foam tapes used in construction and industrial applications. Based in Colchester, in the United Kingdom, it has annual net sales of approximately $6 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
"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."
Headquartered in Cologne, Germany, tremco illbruck is a provider of high-performance sealing, bonding, flooring, waterproofing and passive fire protection products for the construction and manufacturing industries. Regarded as one of the innovation leaders 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.
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