RPM International Inc. has announced that its subsidiary, Rust-Oleum Corp. has acquired the UK-based Watco Group. Terms were not disclosed.
Watco has an 80-year history as a manufacturer and marketer of industrial coatings, as well as supplying concrete floor coatings in the UK. The company also sells brands under the Flowtop, Concrex, Safety Grip, Dustop, and Roofite brands. Illinois-based Rust-Oleum is a provider of specialty coatings used in both home and industry.
Watco has annual sales of approximately $20 million and is expected to be accretive to earnings within the year.
"This acquisition is an excellent complement to our Rust-Oleum business in Europe," said Frank C. Sullivan, RPM president and chief executive officer. "We have expanded our technology base as well as gained a new channel of distribution for Rust-Oleum's vast array of industrial coatings."