Ohio coatings and sealant manufacturer RPM International this week announced that its Tremco subsidiary acquired a New Hampshire manufacturer of foam tapes.
The company, which owns the Rust-Oleum and DAP product lines, said Schult and Willseal — which markets Schul products under the WillSeal and Sealtite brand names — will be integrated under Tremco’s commercial sealants and waterproofing business. Both segments’ current executives will continue in those roles.
RPM said Schul’s pre-compressed, self-expanding foam tapes are used to seal joints in window seals, precast concrete, modular construction, concrete facade restoration, and other applications. Company officials said the acquisition would strengthen the Tremo segment and make RPM a market leader for “impregnated foam tape technology.”
“Through this transaction, we are creating a platform for North American-based production, augmenting our product development capabilities and leveraging other synergies that will be further enhanced by our MAP to Growth operating improvement initiative,” RPM Chairman and CEO Frank Sullivan said in a statement.
Sullivan added that RPM intends to use Tremco’s existing sales structure to generate revenue growth for newly added Schul products.
Terms of the deal were not disclosed.
