Acquisitions are a key element of RPM’s overall growth strategy. The company actively pursues acquisitions of free-standing entrepreneurial companies and product lines that complement its portfolio of specialty coatings and sealants businesses. Over the last 30 years, RPM has completed more than 170 acquisitions, with over 70 of these transactions being completed during the last decade.
RPM creates shareholder value by attracting successful entrepreneurial companies and applying a disciplined approach to investing in their continued growth.
On December 17, 2018, RPM announced that its Rust-Oleum group acquired Siamons International Inc., provider of the Concrobium brand of non-toxic specialty mold cleaners. Based in Ontario, Canada, Siamons has annual net sales of approximately $20 million. The Concrobium brand offers a wide range of non-toxic specialty mold cleaning solutions that can be used on both porous and non-porous surfaces, including wood, fabrics and drywall. It is sold primarily in big-box retailers, such as The Home Depot, Lowe’s and Menards. Among its leading products is Mold Control, the only solution that eliminates mold, prevents its future growth and cleans mold stains in one step, without the use of bleach, ammonia or VOCs. The addition of Concrobium enhances Rust-Oleum’s ability to offer a one-stop shopping solution to its retail partners, ultimately making it a leader in the specialty cleaning market.
RPM’s acquisition philosophy, initiated by Thomas C. Sullivan, who ran RPM from 1971 until 2002 and retired from the board in 2016, is to “Seek good companies. Create an atmosphere where the founders and managers stay with their companies. Then, get out of their way.”
This entrepreneurial culture has been a key attraction to business owners in the industry as demonstrated by the fact that today the majority of RPM’s operating companies are managed by their founders, second- or third-generation family members or the managers they trusted to lead their companies. For this reason, RPM is considered to be the “best home for entrepreneurial companies” in the industry.
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