21 December 2016
DETAILS
RPM International today announced
that it has signed an agreement
to acquire SPS Group (SPS),
a Dutch decorative and specialty coatings company
with annual net sales of approximately
Located about an hour south of
in 's-Hertogenbosch,
SPS will operate
as part of RPM's Rust-Oleum European business.
Terms of the transaction were not disclosed.
It is expected to be accretive to earnings
within one year, excluding one-time costs.
SPS offers a complete line of topcoats
for interior and exterior walls, primers, lacquers,
floor and roof coatings, metal coatings,
wood stains and finishes, plasters and more.
Its major customers are large home center chains
and builder merchants based in
Its products are used by painters, plasterers,
industry and do-it-yourselfers.
RPM chairman and chief executive officer
"By leveraging the manufacturing
and distribution strengths of SPS,
we expect this acquisition
to accelerate Rust-Oleum's growth
in
"It will also allow the existing customer base
of SPS to benefit from
Rust-Oleum technologies and innovations."
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