By Nick Gilbert
Rust-Oleum Group, a subsidiary of RPM International, has acquired exterior wood deck and concrete restoration company, Synta. The latter is based in Clarkston, GA.
The restoration company anticipates annual sales of over $40 million in the maiden year of acquisition. The terms of the transaction remain disclosed, but the earnings are expected to be accretive within a year.
RPM International is a holding company that owns a number of subsidiaries. Each subsidiary is a leader in specialty sealants, coatings, and building materials and also provides related services for the industrial as well as consumer markets. RPM International’s line of products includes roofing solutions, sealants, flooring coatings, corrosion control coatings and some specialty chemicals. Stonhard, illbruck, Tremco, Carboline, Universal Sealants, Flowcrete and Euco are some of the industrial brands from RPM.
Synta offers the Deck Restore range and the Concrete Restore range of products that provide consumers the opportunity to lengthen the lives of outdoor wooden decks that have been weathered with use. Products of this range are also suited for concrete surfaces, providing them with coatings that no conventional paints, stains or sealers can. These ranges are available at home centers and home improvement stores all over the nation. Synta also offers a product line of arts and craft coatings. This line is well known as Anita's brand and is a new addition to the line of specialty coatings recently unveiled by Pantone brand under the name MyColor.
According to RPM Chairman and Chief Executive Officer, Frank C. Sullivan, Synta is slated for rapid growth capitalizing on Rust-Oleum's extensive capabilities in marketing and distribution.