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RPM Buys Brazilian-Based Waterproofer

Monday, June 16, 2014

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Seeking to expand its waterproofing footprint in South America, RPM International Inc. has acquired Brazilian manufacturer Betumat Quimica Ltda.

Terms of the deal, announced Thursday (June 11), were not disclosed.

Betumat Quimica, based in Candeias (Bahia), makes a full line of waterproofing products, including asphaltic membranes, cementitious grouts and modified asphalt products.

Betumat Quimica

Betumat Quimica, of Brazil, was founded in the 1960s and has more than 100 employees.

The company, which reports annual sales of $22 million, serves professional contractors and builders primarily in northern Brazil, according to RPM.

The acquisition comes two years after RPM acquired Viapol Ltda., another major player in the Brazilian construction market.

‘Terrific Synergies’

"Betumat has terrific synergies with Viapol, our Brazilian construction products company acquired in June 2012, and will expand our geographic presence and market share in one of the world's most dynamic economies," said Frank C. Sullivan, RPM chairman and CEO.

Frank Sullivan

RPM International Inc. Chairman and CEO Frank C. Sullivan says the recent transaction will improve the holding company's market opportunities and operating leverage in Brazil.

"Once fully integrated, we expect to see enhanced market opportunities and improved operating leverage in both businesses."

Viapol is part of The Euclid Chemical Group, a unit of RPM’s Building Solutions Group that serves construction and rehabilitation markets worldwide. RPM made the deal to acquire Betumat Quimica through Viapol.

RPM expects the recent transaction to be accretive to earnings within a year.

Recent Acquisition Activity

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

The Medina, OH-based holding company has made two others in less than a year.

In January, its Rust-Oleum Group acquired Minnesota-based Citadel Restoration and Repair Inc., a manufacturer of specialty concrete and wood deck floor coatings based in North St. Paul.

Citadel reported annual sales of approximately $10 million.

Expanko Inc. via RPM

RPM recently acquired Expanko Inc., a commercial flooring products company.

In September 2013, RPM’s Performance Coatings Group acquired Expanko Inc., of Exton, PA. Expanko Inc. owned Expanko Resilient Flooring, which manufactured a variety of commercial flooring products; and FritzTile, a producer of terrazzo tile.

Expanko had annual sales of more than $12 million.

Over the last 40 years, RPM has inked more than 150 acquisitions, including 70 during the last decade.

RPM 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.


Tagged categories: Acquisitions; Building envelope; Business operations; Coatings manufacturers; RPM; Specialty Coatings; Waterproofing; Waterproofing membranes

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