September 22, 2011 – At a company-wide meeting this morning, Legend Brands CEO Bill Bruders announced that RPM International has signed an agreement to purchase the Legend Brands family of companies, including Dri-Eaz Products, ProRestore Products and Sapphire Scientific. Effective September 30, the Legend Brands companies will become part of RPM2, a unit of RPM International.
RPM is a $3.4 billion multinational holding company with subsidiaries
that manufacture and market high-performance coatings, sealants and
specialty chemicals, primarily for maintenance, repair and improvement
applications.
“The management team and I are very excited to become part of the RPM
family,” said Bruders. “In terms of corporate culture and management
philosophy, this a great fit. Being acquired by RPM will open many doors
for us.” The Legend Brands acquisition is RPM’s first major investment
in equipment manufacturing.
Under the sales agreement, Legend Brands will remain a stand-alone
operation within RPM2 and will continue to be led by its existing
management team and headed by Bruders.
Together, Dri-Eaz Products, ProRestore, and Sapphire Scientific,
represent 140 years of combined experience with producing specialty
chemical products and equipment for carpet cleaning, water and fire
damage restoration and commercial cleaning professionals.
“This relationship with RPM will give us both the stability we need and
provide great new opportunities for growth,” said John Ormsby, president
of Dri-Eaz and ProRestore.
In a memo addressed to all Legend Brand employees, Mike Tellor, group president of RPM2, notes that when he met Bruders nine months ago and
toured the Dri-Eaz facilities, he was impressed by the company’s ability
to innovate and its potential for growth. “It was immediately obvious
that Legend Brands would be a great addition to the RPM family,” he
wrote.
RPM industrial companies include Stonhard, Chemspec, Carboline, Tremco,
and Flowcrete. Consumer brands include Rust-Oleum, Zinsser, DAP and
Wolman. RPM is headquartered in Medina, Ohio.
Related links
RPM International
Legend Brands
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