RPM buys Europe fire protection, insulation group
RPM International said Wednesday that its performance coatings group has acquired the Grupo P&V group of companies, a leading European vertically integrated supplier of passive fire protection and insulation products.
Headquartered in Barcelona, Spain, and with manufacturing in Villarana, Grupo has annual sales of approximately $23 million.
Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
Grupo manufactures, markets and installs expanded perlite and vermiculite for passive fire protection, soundproofing, and cryogenic and heat insulation applications.
"This acquisition expands our fireproofing and insulation capabilities, and in conjunction with our Carboline product portfolio, we expect it to help further expand our fire protection and corrosion control market throughout Europe," stated Frank C. Sullivan, RPM’s CEO.
Grupo will continue to be led by its existing management team and owners, including founder Isidro Marques and Alvaro Boter.
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