RPM International to purchase Legend Brands
September
22, 2011 – Burlington, Wash. At
a company-wide meeting this morning, Legend Brands CEO Bill Bruders announced
that RPM International has signed an agreement to purchase the Legend Brands
family of companies, including Dri-Eaz Products, ProRestore Products and
Sapphire Scientific. Effective September 30, the Legend Brands companies will
become part of RPM2, a unit of RPM International.
RPM is a $3.4 billion multinational holding company with subsidiaries that manufacture and market high-performance coatings, sealants and specialty chemicals, primarily for maintenance, repair and improvement applications.
“The management team and I are very excited to become part of the RPM family,” said Bruders. “In terms of corporate culture and management philosophy, this a great fit. Being acquired by RPM will open many doors for us.” The Legend Brands acquisition is RPM’s first major investment in equipment manufacturing.
Under the sales agreement, Legend Brands will remain a stand-alone operation within RPM2 and will continue to be led by its existing management team and headed by Bruders.
Together, Dri-Eaz Products, ProRestore, and Sapphire Scientific, represent 140 years of combined experience with producing specialty chemical products and equipment for carpet cleaning, water and fire damage restoration and commercial cleaning professionals.
“This relationship with RPM will give us both the stability we need and provide great new opportunities for growth,” said John Ormsby, President of Dri-Eaz and ProRestore.
In a memo addressed to all Legend Brand employees, Mike Tellor, Group President of RPM2, notes that when he met Bruders nine months ago and toured the Dri-Eaz facilities, he was impressed by the company’s ability to innovate and its potential for growth. “It was immediately obvious that Legend Brands would be a great addition to the RPM family,” he wrote.
RPM industrial companies include Stonhard, Chemspec, Carboline, Tremco, and Flowcrete. Consumer brands include Rust-Oleum, Zinsser, DAP and Wolman. RPM is headquartered in Medina, Ohio.
Additional information about RPM International is available at www.rpminc.com.
RPM is a $3.4 billion multinational holding company with subsidiaries that manufacture and market high-performance coatings, sealants and specialty chemicals, primarily for maintenance, repair and improvement applications.
“The management team and I are very excited to become part of the RPM family,” said Bruders. “In terms of corporate culture and management philosophy, this a great fit. Being acquired by RPM will open many doors for us.” The Legend Brands acquisition is RPM’s first major investment in equipment manufacturing.
Under the sales agreement, Legend Brands will remain a stand-alone operation within RPM2 and will continue to be led by its existing management team and headed by Bruders.
Together, Dri-Eaz Products, ProRestore, and Sapphire Scientific, represent 140 years of combined experience with producing specialty chemical products and equipment for carpet cleaning, water and fire damage restoration and commercial cleaning professionals.
“This relationship with RPM will give us both the stability we need and provide great new opportunities for growth,” said John Ormsby, President of Dri-Eaz and ProRestore.
In a memo addressed to all Legend Brand employees, Mike Tellor, Group President of RPM2, notes that when he met Bruders nine months ago and toured the Dri-Eaz facilities, he was impressed by the company’s ability to innovate and its potential for growth. “It was immediately obvious that Legend Brands would be a great addition to the RPM family,” he wrote.
RPM industrial companies include Stonhard, Chemspec, Carboline, Tremco, and Flowcrete. Consumer brands include Rust-Oleum, Zinsser, DAP and Wolman. RPM is headquartered in Medina, Ohio.
Additional information about RPM International is available at www.rpminc.com.
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