RPM International Inc. announced that its Fibergrate Composite Structures Inc. business acquired Bison Innovative Products, a manufacturer of raised flooring systems.
Headquartered in Denver, Colorado, Bison has annual net sales of approximately $26 million.
Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Bison’s flooring systems consist of adjustable polypropylene pedestals that support tiles with architectural finishes such as wood, stone or artificial turf.
Its products are used for rooftop decks, plazas, terraces, pop-up-parks and other architectural features requiring maintenance-free pedestals and low maintenance deck surfaces.
The company’s products are manufactured in the U.S. and distributed across North America. Bison will become part of RPM’s Fibergrate business, which is a global manufacturer of fiberglass-reinforced plastic solutions for industrial and commercial applications.
“The Bison business checks the box on the key characteristics we look for in an acquisition. It has a unique, market-leading product line; track record of impressive top- and bottom-line growth; and synergies with our other businesses that will enable us to accelerate that growth," said Frank C. Sullivan, RPM chairman and CEO. "Plus, it has a strong management team led by Lisa von Gunten and Matt McClaugherty who is staying on to run the business. Through this transaction, we plan to enhance Bison’s distribution base, allowing the business to enter new geographies and markets. At the same time, we expect to leverage its connections to achieve greater penetration of Fibergrate’s products.”
