RPM International Inc. (NYSE: RPM) today announced this month that Applied Polymerics, Inc. & Marketing Associates, Inc. (API/MAI), a specialist civil engineering and construction organization focusing on bridges, roads and major structures, has been acquired to be part of its Universal Sealants (U.K.) Limited (USL) business within the RPM Performance Coatings Group. API/MAI manufactures, supplies and installs specialist construction products, including bridge expansion joints, concrete repair compounds, protective coatings and pavement preservation products. Based in Mount Airy, North Carolina, it has annual net sales of approximately $14 million. Terms of the transaction were not disclosed.
"RPM's USL subsidiary, the U.K.'s leader in bridge expansion joint and bridge repair, has a wide range of products and know-how that will enable API/MAI to expand its reach and become a national player throughout the U.S. in compatible market spaces," stated Frank C. Sullivan, RPM chairman and chief executive officer. "API/MAI's historical track record with local Department of Transportation divisions will greatly accelerate acceptance in the market and provide the opportunity to sell high value, differentiated technologies to solve larger and more complex bridge and road repair needs."
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