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RPM Buys Wood, Concrete Systems Firm

Wednesday, September 26, 2012

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RPM International Inc. has not eased its quest to conquer.

The Medina, OH-based holding company’s Rust-Oleum Group has acquired Synta Inc., a maker of exterior wood deck and concrete restoration systems.

Terms of the deal, announced Monday (Sept. 24), were not disclosed.

Coatings Maker

Based in Clarkston, GA, Synta manufactures and packages specialty architectural coatings, craft paints and industrial coatings. The company’s Deck Restore and Concrete Restore brand products are widely available at nationwide home improvement retailers and other home centers.

Additionally, Synta offers a line of arts and craft coatings under the Anita’s brand and recently introduced a line of specialty coatings under the MyColor by Pantone brand. All manufacturing, packaging and distribution operations are located in Clarkston, GA.

The company’s annual sales are anticipated to exceed $40 million in the first year, according to RPM.

‘Further Rapid Growth Ahead’

“Building on a strong product performance foundation, Synta has opportunities for further rapid growth ahead as it benefits from Rust-Oleum’s extensive marketing and distribution capabilities,” said Frank C. Sullivan, chairman and CEO of the parent company of DAP, Zinsser, Varathane and other well-known brands of coatings, sealants, and building materials.

Synta will continue to be led by its current CEO, Randy Moore. The company will operate as a stand-alone business within Rust-Oleum’s Consumer Business Group.

“Tom Curtis, Synta founder, will continue in a consulting capacity,” Sullivan added.

Curtis purchased Camco Paints Inc. and changed the name to Synta in 1993. Camco Paints Inc. was established in 1962.

Acquisitions Flurry

The Synta deal is the latest in a recent series of acquisitions by RPM.

Recent moves include the acquisition of Viapol Ltda. (Cacapava, Brazil); HiChem Paint Technologies Pty. Ltd. (Hallam, Austrailia), Legend Brands (Burlington, Wash.); Grupo P&V  (Barcelona, Spain); and FEMA Farben + Putze GmbH (Ettlington, Germany).
RPM International Inc. owns subsidiaries in the specialty coatings, sealants, building materials, and related markets. Brands include Stohnard, Tremco, Illbruck, Carboline, Flowcrete, Zinsser, Rust-Oleum, DAP, and Varathane.

The company will report its 2013 first-quarter earnings and results Oct. 3.


Tagged categories: Architectural coatings; Construction; Deck coatings; Epoxy; Mergers; Retail; RPM; Rust-Oleum Corp.; Stains

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