RPM Acquires Adhesives
Maker in Germany
RPM Europe SA, the European arm of U.S. coatings firm RPM, Inc., has acquired Compakta/Pactan, a division of Heidelberger Bauchemie GmbH, as well as floor manufacturer Ecoloc N.V./Lock-Tile Belgium N.V. The acquired businesses will have combined sales of approximately E20 million. Terms of the cash transactions were not disclosed.
“These transactions represent our expanded emphasis on completing acquisitions in Europe, an important part of our growth strategy,” said Frank C. Sullivan, RPM’s president and chief executive officer. “These stand-alone niche businesses will fit nicely into the business we are growing in Europe, and we are pleased that both will retain their experienced management teams. These companies will provide leading share in niche markets, positive cash flow and will both be accretive to earnings immediately. We welcome these businesses and their employees into the RPM family.”
Compakta/Pactan, headquartered in Traunreut, Germany, makes silicone-based adhesives, joint filler and sealers for the construction and building, automotive supplier, general and appliance OEM industries. Ecoloc, maker of Lock-Tile and Lock-Mat products, is a Belgian-based commercial and industrial tile flooring maker that pioneered interlocking PVC tile flooring.
Fitting with RPM’s strategy, both of the acquired companies will retain their current management team. Erich Maier, Walter Mayerhofer, Friedrich Hamberger and Michael Futscher will manage RPM’s Compact Technology GmbH, and Patrick Stoop, founder, will manage Ecoloc. All will report to Ulf S. Eriksson, president of RPM Europe SA.
“Ecoloc and Compact Technology are excellent additions to our European base and will help broaden RPM's product offerings by expanding into related markets and technologies,” said Eriksson. “We look forward to working with both management teams and helping them to grow their businesses throughout Europe and worldwide.”