RPM Coatings purchases Italian company
RPM Performance Coatings Group, a Medina, Ohio, holding company that owns consumer brands Zinsser, Rust-Oleum, DAP and Varathane, has purchased API, an Italian flooring and deck coating business. The purchase price was not disclosed.
Based in Genoa, Italy, API is a $28 million company that produces and installs epoxy and polyurethane flooring systems for the Italian building market. It specializes decking solutions for cruise ships, mega-yachts and naval applications.
"API enhances RPM's presence in the decorative flooring market and will complement the strengths of our Stonhard and Flowcrete commercial polymer flooring businesses," said Frank Sullivan, RPM chairman and CEO. API will continue to be lead by its current management team, which includes grandsons of the company founder.
RPM International, a holding company, owns subsidiaries in the specialty coatings, sealants, building materials and related industries that serve both industrial and consumer markets.