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Monday, 23 September 2019
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Markets & companies, Coatings market

RPM signs agreement to acquire leading Dutch coatings company

Thursday, 29 December 2016

RPM International Inc. has signed an agreement to acquire SPS Group (SPS), a Dutch decorative and specialty coatings company with annual net sales of approximately EUR57 million.

Frank C. Sullivan, RPM chairman and chief executive officer. Source: RPM

Frank C. Sullivan, RPM chairman and chief executive officer. Source: RPM

Located about an hour south of Amsterdam in 's-Hertogenbosch, the Netherlands, SPS will operate as part of RPM's Rust-Oleum European business. Terms of the transaction were not disclosed. It is expected to be accretive to earnings within one year, excluding one-time costs.

About SPS

SPS offers a complete line of topcoats for interior and exterior walls, primers, lacquers, floor and roof coatings, metal coatings, wood stains and finishes, plasters and more. Its major customers are large home center chains and builder merchants based in the Netherlands. Its products are used by painters, plasterers, industry and do-it-yourselfers.

Accelerating growth

"By leveraging the manufacturing and distribution strengths of SPS, we expect this acquisition to accelerate Rust-Oleum's growth in the Netherlands and other nearby European countries," stated Frank C. Sullivan, RPM chairman and chief executive officer. "It will also allow the existing customer base of SPS to benefit from Rust-Oleum technologies and innovations."

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