STREETSBORO, Ohio—A subsidiary of Medina, Ohio-based specialty coatings and sealants producer RPM International Inc. has acquired Dudick Inc., a Streetsboro company that makes coatings, flooring systems and tank linings.
Terms of the purchase were not disclosed. RPM said in a news release that Dudick has annual sales of about $10 million and will become part of Carboline, a manufacturer of industrial coatings, linings and fireproofing products.
Frank C. Sullivan, chairman and CEO of RPM, said in a statement that the acquisition "will allow Carboline to strengthen its position in the secondary containment linings market with an established and trusted product while simultaneously opening the door to expanded sales and future growth opportunity worldwide."
Dudick, founded in 1970, makes products for corrosion resistance and chemical containment systems across a broad range of applications, including food processing, steel production, chemical processing, pulp and paper, electronics, power and biological research labs. RPM said in the release that Dudick's products are manufactured in the U.S., but maintains additional manufacturing relationships in Taiwan and South Korea. Its products are distributed worldwide.
RPM has four reportable segments: consumer, construction products, performance coatings and specialty products. Its brands include Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. RPM has about 14,600 employees worldwide.
The company's stock closed trading on June 7 at $93.04. The stock's 52-week high is $99.30, and the 52-week low is $71.19.