Dec 23 2010
RPM International Inc. (NYSE: RPM) today announced that its RPM Performance Coatings Group has acquired Pipeline & Drainage Systems Ltd. (PDS), a leading supplier of curb, bridge and channel drainage products for construction and infrastructure markets, primarily in the United Kingdom and Ireland.
Based in Wakefield, England, PDS has annual sales of approximately $8 million. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Founded in 2000, PDS is one of the United Kingdom's leading drainage systems specialists and offers complete solutions for projects, from the initial design and specification through supply and installation. Its Enviro line of products is made from recycled materials and offers significant weight, handling and cost advantages over traditional drainage systems. PDS will operate as a stand-alone business of Universal Sealants (UK) Ltd. (USL), an RPM subsidiary that supplies coatings and construction products for bridges and large infrastructure projects.
"We intend to leverage RPM's established sales and distribution network to take the PDS product line deeper into the European marketplace. In particular, this acquisition of PDS complements our USL business and strengthens its already strong position in the UK infrastructure market," stated Frank C. Sullivan, RPM chairman and chief executive officer. "We're pleased to have Chris Rothery, Greg Parkin and the entire PDS management team join the RPM family of businesses."
Source: http://www.rpminc.com