RPM Buys Citadel Restoration; Terms Not Disclosed

(RTTNews) - RPM International Inc. (RPM) said Wednesday its Rust-Oleum Group has acquired Citadel Restoration and Repair Inc., a producer of premium concrete and wood deck floor coatings for both the professional contractor and do-it-yourself markets.

Terms of the transaction, which are expected to be accretive to earnings within one year, were not disclosed.

Based in North St. Paul, Minnesota, Citadel has annual sales of about $10 million.

"Citadel has an outstanding technology platform that we believe can be rapidly expanded in the marketplace by utilizing Rust-Oleum's marketing and distribution expertise," stated Frank Sullivan, RPM chief executive officer.

Medina, Ohio-based RPM International, a holding company, owns subsidiaries that are engaged in specialty coatings, sealants, building materials and related services.