RPM International Inc.'s Performance Coatings Group (PCG) has acquired Expanko, Inc., a producer of terrazzo tile under the FritzTile brand, as well as cork, rubber and rubber/cork floor tiles, primarily for the education, healthcare, hospitality and sports/entertainment commercial markets. Headquartered in Exton, Pennsylvania, with manufacturing in Mesquite, Texas, Expanko has annual sales of more than $12 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
"Expanko is a great fit with other PCG flooring lines and should benefit from greatly enhanced marketing and distribution opportunities that will further its reach beyond its traditional U.S. East Coast strength," stated Frank C. Sullivan, RPM chairman and chief executive officer. "Expanko will operate as a stand-alone business within PCG and will continue to be led by one of its two owners, Randy Gillespie, and his current management team."