RPM International Inc. has announced that its wholly owned subsidiary, The Euclid Chemical Co. of Cleveland, Ohio, has acquired Increte Systems of Odessa, Fla.
With sales of approximately $15 million, Increte is a leading manufacturer of decorative concrete systems that economically recreate the look of natural stone, wood, tile, brick and pavers using concrete. Terms of the acquisition were not disclosed.
RPM’s president and chief executive officer, Frank C. Sullivan, stated in a news release: “We are very excited to have acquired Increte’s comprehensive decorative product line, along with its all-inclusive manufacturing processes and training capabilities. Increte has been exceedingly successful in establishing a leadership position in the decorative concrete industry. This acquisition provides the springboard to propel Euclid Chemical forward in this growing market segment.”
The existing Increte management team will remain in place, and the company will operate as a stand-alone business unit of Euclid Chemical, reporting to Moorman Scott, Euclid Chemical’s executive vice president.
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings and sealants. ?
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