Citation
(2007), "RPM's Rust-Oleum Acquires Tor Coatings Limited", Pigment & Resin Technology, Vol. 36 No. 4. https://doi.org/10.1108/prt.2007.12936dab.028
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited
RPM's Rust-Oleum Acquires Tor Coatings Limited
RPM's Rust-Oleum Acquires Tor Coatings Limited
March 27, 2007
Acquisition Expands Specialty Coatings Business in the UK
Medina, OH – RPM International Inc. announced that its subsidiary, Rust- Oleum Corporation (Rust-Oleum), has acquired Tor Coatings Limited (Tor), a manufacturer and marketer of specialty coatings in the UK. Terms were not disclosed.
Tor is based in Birtley, England, and, in addition to, selling specialty coatings under the Tor brand, they also sell under the Blackfriars, Holdtite, Solignum, Ratcliffe, and Macroplexx brands. Rust-Oleum, based in Vernon Hills, IL, is a leading provider of specialty coatings used in both consumer and industrial applications.
Tor has annual sales of approximately $45 million and is expected to be accretive to earnings within the year.
“This acquisition is an excellent strategic fit with our growing Rust- Oleum business in Europe,” said Frank C. Sullivan, RPM president and chief executive officer. “In addition to expanding our technical expertise, we strengthen our coatings presence in the consumer market in the UK and broaden our distribution of industrial and commercial coatings. We look forward to working closely with Tor's high-quality management team led by Colin Carter.”