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RPM Acquires Australian Specialty Coatings Company HiChem Paint

Wednesday, April 4, 2012

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RPM International Inc. (Medina, Ohio) announced that its Rust-Oleum Group acquired HiChem Paint Technologies Pty. Ltd., an Australian manufacturer of automotive aftermarket coatings and specialty coatings for industrial applications and home maintenance.

Terms of the transaction were not disclosed.

Based in Hallam, Australia, HiChem has annual sales of approximately $23 million.  The company manufactures and markets a wide range of vehicle-repair, general industrial and home-maintenance coatings and products for both do-it-yourselfers and professionals sold under the Motospray and HiChem brands, RPM said.

“This acquisition expands our presence in the Australian market with well-respected brands and enhances our operational capabilities in the region by providing new distribution channels and local manufacturing,” said Frank C. Sullivan, RPM chairman and CEO. “HiChem is an excellent addition to our Rust-Oleum Group and will benefit from Rust-Oleum’s innovative new products, marketing savvy and category management capabilities.”

HiChem will continue to be led by its existing management team, including founder and former owner Ivan Moldovan.

RPM’s Recent Deals

The HiChem acquisition is the latest in a series of acquisitions by RPM. Since the start of the company’s fiscal second quarter in September 2011, RPM has announced deals with a combined value of more than $130 million, according to the company’s latest financial report. See RPM Reports Strong Sales Increase; Costs Press on Bottom Line.

The moves include the acquisition of Legend Brands, (Burlington, Wash.), a group of companies that provide equipment and materials for water- and fire-damage restoration, professional cleaning and environmental control; Grupo P&V (Barcelona, Spain), an array of companies supplying passive fire protection and insulation products; and most recently FEMA Farben + Putze GmbH (Ettlington, Germany), a major supplier of external insulating and finish systems and related products to the German and French construction markets.

RPM International Inc. is a holding company that owns subsidiaries in the specialty coatings, sealants, building materials, and related markets. Brands include Stohnard, Tremco, Illbruck, Carboline, Flowcrete, Zinsser, Rust-Oleum, DAP, Varathane, and others.


Tagged categories: Acquisitions; Building materials; Business matters; Cladding; EIFS; HiChem Paint Technologies; Insulation; RPM

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