RPM’s Euclid Chemical Company acquires Increte Systems
RPM International Inc. announced that its wholly owned subsidiary, The Euclid Chemical Company of Cleveland, OH, has acquired Increte Systems of Odessa, FL. With sales of approximately $15 million, Increte is a leading manufacturer of decorative concrete systems that recreate the look of natural stone, wood, tile, brick and pavers using concrete.
“We are very excited to have acquired Increte’s comprehensive decorative product line, along with its all-inclusive manufacturing processes and training capabilities,” said RPM’s president and CEO, Frank C. Sullivan. “Increte has been exceedingly successful in establishing a leadership position in the decorative concrete industry. This acquisition provides the springboard to propel Euclid Chemical forward in this growing market segment.”
The existing Increte management team will remain in place and the company will operate as a stand alone business unit of Euclid Chemical reporting to Moorman Scott, Euclid Chemical’s executive vice president.