RPM Acquires Manufacturer of Commercial Joint Sealants
Medina, Ohio -- -RPM International Inc. announced that its Tremco business has acquired Schul International, a manufacturer of joint sealants for commercial construction, and Willseal, a business that markets and sells Schul products. Both companies are headquartered in Hudson, N.H., and have combined annual net sales of approximately $15 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Schul’s product line primarily consists of pre-compressed, self-expanding foam tapes, which are used for sealing vertical and horizontal joints in applications that include window seals, precast concrete, modular construction and concrete façade restoration. They are sold under the Sealtite and Willseal brands.
Schul is an industry innovator that has developed a number of proprietary systems, including those that are fire rated to provide passive fire protection and others that are pre-coated with silicone to deliver weather-tight joints. Its systems are further differentiated by the use of monolithic foam versus competing products that are made from several foam layers that are laminated together.
Schul and Willseal will be integrated into RPM’s Tremco Commercial Sealants & Waterproofing business, which specializes in the manufacture of sealants and waterproofing products for commercial, residential, industrial and infrastructure markets. The companies’ entrepreneurial leaders, Steve Robinson of Schul and Brian Iske of Willseal, will continue in their current roles with the business units as part of Tremco.
“The acquisition of Schul strengthens Tremco’s position as a global market leader and puts RPM in a leading position for impregnated foam tape technology," said Frank C. Sullivan, chairman and CEO of RPM. "Through this transaction, we are creating a platform for North American-based production, augmenting our product development capabilities and leveraging other synergies that will be further enhanced by our MAP to Growth operating improvement initiative. Schul’s well-recognized brands complement our existing product offering with new solutions, and we intend to drive revenue growth for Schul’s products by leveraging Tremco’s existing sales structure.”
For more information, visit www.rpminc.com.