RPM acquires Australian auto repair and industrial coatings business
April 4, 2012
RPM International Inc., though its Rust-Oleum Group, has acquired HiChem Paint Technologies Pty. Ltd., an Australian manufacturer of automotive aftermarket coatings, as well as specialty coatings for industrial applications and home maintenance. Based in Hallam, Australia, HiChem has annual sales of approximately $23 million. HiChem 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. The acquisition expands RPM’s presence in the Australian market with well-respected brands and enhances its operational capabilities in the region by providing new distribution channels and local manufacturing. HiChem will continue to be led by its existing management team, including founder and former owner Ivan Moldovan.