RPM International Inc. (NYSE: RPM) announced that it has signed an agreement to acquire SPS Group (SPS), a Dutch decorative and specialty coatings company with annual net sales of approximately $60 million.
Located about an hour south of Amsterdam in ‘s-Hertogenbosch, the Netherlands, SPS will operate as part of RPM’s Rust-Oleum European business. Terms of the transaction were not disclosed. It is expected to be accretive to earnings within one year, excluding one-time costs.
SPS offers a complete line of topcoats for interior and exterior walls, primers, lacquers, floor and roof coatings, metal coatings, wood stains and finishes, plasters and more. Its major customers are large home center chains and builder merchants based in the Netherlands. Its products are used by painters, plasterers, industry and do-it-yourselfers.
Jones Day advised RPM International Inc. in its acquisition of SPS Group with a team led by Amsterdam-based Corporate partner Floris Pierik.
Involved fees earner: Floris Pierik – Jones Day;
Law Firms: Jones Day;
Clients: RPM International Inc.;