"Betumat has terrific synergies with Viapol, our Brazilian construction products company acquired, and will expand our geographic presence and market share in one of the world's most dynamic economies," RPM Chairman and CEO Frank C. Sullivan said.
BRUNSWICK HILLS TOWNSHIP, Ohio -- RPM International Inc., the specialty coatings and sealants company whose products include Stonhard, Tremco, Zinsser and Rust-Oleum, has acquired Betumat Quimica Ltda., a Brazilian manufacturer of waterproofing products with annual net sales of approximately $22 million.
Betumat Quimica, based in Candeias, Brazil, is RPM's second major acquisition in Brazil since Viapol Ltda., a major Brazilian manufacturer of building materials and construction products, in 2012.
Betumat was acquired by Viapol, now part of RPM's Performance Coatings Group and its Northeast Ohio-based Euclid Chemical Co. Terms of the deal were not disclosed.
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View full sizeEuclid Chemical Company concrete admixtures being spray-applied to a hydroelectric project in Costa Rica. Betumat Quimica, RPM's newest acquisition, will be part of the Euclid Chemical Co. The acquisition, expected to contribute to earnings within a year, includes Betumat's full line of waterproofing products, including "asphaltic membranes, cementitious grouts and modified asphalt products," as well as a manufacturing facility and several warehouses in Brazil.
Betumat's waterproofing materials are sold to professional contractors and builders of residential and commercial projects, primarily in northeastern 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," RPM Chairman and Chief Executive Frank C. Sullivan said in a written statement. "Once fully integrated, we expect to see enhanced market opportunities and improved operating leverage in both businesses."
Betumat, founded as a distributor of bitumen in 1963, expanded to manufacture waterproofing products in 1968. Its website identifies Betumat as one of the fastest-growing companies in its industry. The company employs more than 100 people.
