RPM International Inc. has announced that Viapol Ltd., a part of The Euclid Chemical Company and RPM's Performance Coatings Group, has acquired Betumat Quimica Ltda., a waterproofing products manufacturer based in Candeias (Bahia), Brazil, with annual net sales of approximately $22 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Betumat offers a full line of waterproofing products, including asphaltic membranes, cementitious grouts and modified asphalt products, to professional contractors and builders primarily in northern Brazil.
"Betumat has terrific synergies with Viapol, our Brazilian construction products company acquired in June 2012, and will expand our geographic presence and market share in one of the world's most dynamic economies," stated Frank C. Sullivan, RPM chairman and chief executive officer. "Once fully integrated, we expect to see enhanced market opportunities and improved operating leverage in both businesses."