RPM Performance Coatings Group acquires Pipeline & Drainage Systems Ltd

RPM International Inc Wednesday announced that its RPM Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd (PDS). PDS is a leading supplier of curb, bridge and channel drainage products for construction and infrastructure markets, primarily in the United Kingdom and Ireland. Based in Wakefield, England, PDS has annual sales of approximately $8 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.

Founded in 2000, PDS is one of the United Kingdom's leading drainage systems specialists and offers complete solutions for projects, from the initial design and specification through supply and installation. Its Enviro line of products is made from recycled materials and offers significant weight, handling and cost advantages over traditional drainage systems. PDS will operate as a stand-alone business of Universal Sealants (UK) Ltd. (USL), an RPM subsidiary that supplies coatings and construction products for bridges and large infrastructure projects.

Frank C. Sullivan, RPM chairman and chief executive officer said the firm intends to leverage RPM's established sales and distribution network to take the PDS product line deeper into the European marketplace. In particular, this acquisition of PDS complements the firm’s USL business and strengthens its already strong position in the UK infrastructure market, he stated. He further reiterated his delight to have Chris Rothery, Greg Parkin and the entire PDS management team join the RPM family of businesses.

RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services serving both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Universal Sealants and Euco.

RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane and Testors. Fiscal 2009 sales were $3.4 billion, with 67 percent to industry worldwide and the remaining 33 percent to consumers mainly in North America.

Shares of the company's common stock are traded on the New York Stock Exchange under the symbol RPM and are owned by some 300 institutional investors and 85,000 individuals. RPM employs approximately 9,700 people worldwide and operates 92 manufacturing facilities in 22 countries. Its products are sold in approximately 150 countries and territories.

22 Dec 2010.