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RPM Acquires Indoor Air Quality Services Business

By: RPM International Inc. via Business Wire

August 02, 2021 at 16:53 PM EDT

RPM International Inc. (NYSE: RPM) today announced that its Tremco Construction Products Group has acquired Pure Air Control Services, Inc., a provider of indoor air quality solutions. Headquartered in Clearwater, Florida, Pure Air has annual net sales of approximately $10 million. Terms of the transaction were not disclosed.

Founded in 1984, Pure Air offers a full range of turnkey solutions to indoor air quality concerns, including environmental consulting, building diagnostics, and laboratory services, as well as HVAC system hygienic cleaning and restoration. Its senior indoor air quality staff includes industrial hygienists, certified indoor environmental consultants, microbiologists and building remediation technicians. The business primarily serves governmental agencies, educational institutions, commercial properties, energy engineering firms and other mechanical contractors. Over the course of its 37 years in business, Pure Air has serviced more than 10,000 buildings encompassing 600 million square feet of space. Pure Air will become part of Tremco Roofing and Building Maintenance’s affiliated construction services company, Weatherproofing Technologies Inc.

“Pure Air represents a strategic and synergistic service-related business for Tremco Roofing and our Construction Products Group. Combined, these complementary businesses have greater horsepower to penetrate vertical markets,” stated Frank C. Sullivan, RPM chairman and CEO. “We look forward to working with Pure Air founder Alan Wozniak and his management team to swiftly scale the business by leveraging our North American sales force, strategic partnerships and operational infrastructure.”

About RPM

RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio with hundreds of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces, to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs 15,500 individuals worldwide. Visit www.RPMinc.com to learn more.

For more information, contact Russell L. Gordon, vice president and chief financial officer, at 330-273-5090 or rgordon@rpminc.com.

Forward-Looking Statements

This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of banks and other financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas- and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) the timing of and the realization of anticipated cost savings from restructuring initiatives and the ability to identify additional cost savings opportunities; (j) risks related to the adequacy of our contingent liability reserves; (k) risks relating to the Covid pandemic; (l) risks related to adverse weather conditions or the impacts of climate change and natural disasters; and (m) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2021, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.