MEDINA, Ohio, May 6 /PRNewswire-FirstCall/ -- RPM International Inc.
(NYSE: RPM) announced today that its wholly owned subsidiary, The StonCor
Group, Inc./Stonhard Division, has acquired National Building Facilities
Services (NBFS), a regional janitorial and facility care services company
operating in the Mid-Atlantic states.
NBFS, based in Philadelphia, PA, offers day-to-day janitorial and facility
care services to businesses that require daily upkeep and regularly scheduled
facility maintenance, including healthcare facilities, warehouses/distribution
centers, retail stores, supermarkets, etc. In addition, they offer post-
construction cleanup services to general contractors throughout the Mid-
Atlantic region. NBFS' existing customer base includes large regional and
national companies like Pathmark and ShopRite supermarkets; RiteAid and Eckerd
drug stores; Dunkin Donuts, WaWa, and Stop-n-Shop stores; and Office Depot and
BestBuy retail stores.
Stonhard, a world leader in high-performance polymer systems, provides a
wide range of seamless flooring solutions for applications that demand
durability, cleanability, chemical resistance and aesthetic appeal. These
premium products have set the flooring standard for industrial and commercial
facilities around the world. Whether it's a food processing facility or a
university cafeteria, a chemical processing facility or a high-profile
healthcare facility - Stonhard engineers a solution to provide complete
facility protection. From floor design and custom color creation, to product
manufacture, installation and warranty, Stonhard's turnkey approach offers
customers a single-source solution from start to finish.
With the acquisition of NBFS, Stonhard is able to enhance its after-sale
service offerings to include on-going facility maintenance, while NBFS can
capitalize on Stonhard's existing nationwide network of local territory
managers and field engineers to grow its operations from coast to coast. Both
companies market their products and services to facility owners. NBFS
subcontractors are in a position to recognize flooring problems and recommend
high-quality solutions, while Stonhard territory managers can now add after-
sale cleaning services to complete their line of product and service
offerings. Together, Stonhard and NBFS can now envelop every customer in
total facility care.
NBFS, with sales of approximately $10 million, is projected to achieve
significant revenue growth in the near term, with synergies between NBFS and
Stonhard facilitating strategic future revenue growth. "Both companies are
now in a position to strengthen their existing core customer relationships
with new products and services that add value to their facility care
solutions," says David Reif, CEO, The StonCor Group, Inc. "While NBFS is
still a relatively small company the business model is scalable and represents
double-digit growth potential for the next several years. The similarities in
both Stonhard's and NBFS' direct operating models, with high levels of control
and a strong commitment to service, make this acquisition an exceptional fit
and a profitable venture for everyone."
RPM International Inc., a holding company, owns subsidiaries that are
world leaders in specialty coatings and sealants serving both industrial and
consumer markets. RPM's industrial products include roofing systems, sealants,
corrosion control coatings, flooring coatings and specialty chemicals.
Industrial brands include Stonhard, Tremco, Carboline, Day-Glo, Euco and
Dryvit. RPM's consumer products are used by professionals and do-it-
yourselfers for home maintenance and improvement, automotive and boat repair
and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust-
Oleum, DAP, Varathane, Bondo and Testors.
For more information, contact Glenn R. Hasman, vice president of finance
and communications, at 330-273-8820 or firstname.lastname@example.org .
This press release contains "forward-looking statements" relating to the
business of the company. These forward-looking statements, or other
statements made by the company, are made based on management's expectations
and beliefs concerning future events impacting the company and are subject to
uncertainties and factors (including those specified below) which are
difficult to predict and, in many instances, are beyond the control of the
company. As a result, actual results of the company could differ materially
from those expressed in or implied by any such forward-looking statements.
These uncertainties and factors include (a) general economic conditions; (b)
the price and supply of raw materials, particularly titanium dioxide, certain
resins, aerosols and solvents; (c) continued growth in demand for the
company's products and services; (d) legal, environmental and litigation risks
inherent in the company's construction and chemicals businesses and risks
related to the adequacy of the company's insurance coverage for such matters;
(e) the effect of changes in interest rates; (f) the effect of fluctuations in
currency exchange rates upon the company's 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 the company's ongoing acquisition and divestiture activities,
including realization of any projected revenue growth and acquisition-related
synergies; (i) risks related to the adequacy of its contingent liability
reserves, including for asbestos-related claims; and other risks detailed in
the company's other reports and statements filed with the Securities and
Exchange Commission, including the risk factors set forth in the company's
prospectus and prospectus supplement included as part of the company's
Registration Statement on Form S-4 (File No. 333-114259), as the same may be
amended from time to time. RPM does 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.
SOURCE: RPM International Inc.
CONTACT: Glenn R. Hasman
vice president of finance and communications
of RPM International Inc.
+1-330-273-8820, or email@example.com
Web site: http://www.rpminc.com