RPM International Profile
RPM International Inc. and its subsidiaries manufacture, market, and sell various specialty chemical product lines, including high-quality specialty paints, infrastructure rehab and repair products, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance and improvement needs of the industrial, specialty, and consumer markets.
The company’s family of products includes those marketed under brand names, such as API, Carboline, CAVE, DAP, Day-Glo, Dri-Eaz, Dryvit, Euclid, EUCO, Fibergrate, Fibregrid, Fibrecrete, Flecto, Flowcrete, Gator, Grupo PV, Hummervoll, illbruck, Kemtile, Key Resin, Nudura, Mohawk, Prime Resins, Rust-Oleum, Specialty Polymer Coatings, Stonhard, Strathmore, TCI, Toxement, Tremco, Tuf-Strand, Universal Sealants, Viapol, Watco and Zinsser.
As of May 31, 2023, the company’s subsidiaries marketed products in approximately 164 countries and territories and operated manufacturing facilities in approximately 121 locations in Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Colombia, France, Germany, India, Italy, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Poland, South Africa, South Korea, Spain, Sweden, Turkey, the United Arab Emirates, the United Kingdom, and the United States. Approximately 29% of the company’s sales are generated in international markets through a combination of exports to and direct sales in foreign countries.
Segments
The company operates through four segments: Construction Products Group (‘CPG’), Performance Coatings Group (‘PCG’), Consumer Group (‘Consumer’), and Specialty Products Group (‘SPG’).
CPG Segment
The company’s CPG segment products and services are sold throughout North America and also account for the majority of the company’s international sales. The company’s construction product lines and services are sold directly to manufacturers, contractors, distributors, and end-users, including industrial manufacturing facilities, concrete and cement producers, public institutions, and other commercial customers. The company’s CPG segment includes the following major product lines and brand names:
Waterproofing, coatings and traditional roofing systems used in building protection, maintenance and weatherproofing applications marketed under the company’s Tremco, AlphaGuard, AlphaGrade, BURmastic, OneSeal, POWERply, THERMastic, TremPly, TremLock, Vulkem and TREMproof brand names;
In collaboration with companies from the PCG and SPG reportable segments respectively, Fibergrate and Legend Brands, retrofit structural panels, fiberglass reinforced plastic (‘FRP’) and metal TremSafe rooftop safety solutions, and RoofTec cleaning and RoofTec drying services;
Sealants, air barriers, tapes and foams that seal and insulate joints in various construction assemblies and glazing assemblies marketed under the company’s Tremco, Dymonic, ExoAir, illbruck and Spectrem brand names;
New residential home weatherization systems marketed under the company’s TUFF-N-DRI, Watchdog Waterproofing and Enviro-Dri brand names;
Specialized roofing, building maintenance and related services performed by the company’s Weatherproofing Technologies Incorporated (WTI) subsidiary, as well as the company’s Weatherproofing Technologies Canada (WTC) subsidiary that include: turnkey general contracting projects, general roofing repairs, roof restorations, building asset management programs, diagnostic services, indoor air quality audits, HVAC restorations, job-site inspections, TremCare maintenance programs, customized warranty solutions and offerings;
Sealing and bonding solutions for windows and doors, facades, interiors and exteriors under the company’s illbruck TremGlaze brand name;
Subfloor preparation, leveling screeds for flooring and waterproofing applications under the company’s Tremco and Isocrete brand names;
In-plant glazing solutions and structural glazing under the company’s Tremco brand name;
High-performance resin flooring systems, polyurethane & MMA waterproof coatings, epoxy floor paint and coatings, concrete repair and protection products and decorative concrete for industrial and commercial applications sold under the company’s Flowcrete and Key Resins brand names;
Rolled asphalt roofing materials, waterproofing products, and chemical admixtures marketed under the company’s Viapol, Vandex and Betumat brand names;
Concrete and masonry admixtures, concrete fibers, cement grinding aids, cement performance enhancers, curing and sealing compounds, structural grouts and mortars, epoxy adhesives, polyurethane foams, floor hardeners and toppings, joint fillers, industrial and architectural coatings, decorative color/stains/stamps, and a comprehensive selection of restoration materials marketed under the Euclid, CAVE, Conex, Toxement, Viapol, Dural, EUCO, Eucon, Eucem, Fiberstrand, Increte Systems, Plastol, Sentinel, Speed Crete, Tuf-Strand, Prime Gel, Prime Bond, Prime Coat, Prime Guard, Prime Rez, Prime Flex and Tremco PUMA Expansion Joint System brand names;
Solutions for fire stopping and intumescent coatings for steel structures under the company’s Firetherm brand now all transitioned to Nullifire, Veda and TREMStop brand names;
Adhesive & sealant solutions for the manufacturing industries under the company’s Pactan brand name;
Insulated building cladding materials (exterior insulating and finishing systems, ‘EIFS’) under the company’s Dryvit and NewBrick brand names;
Insulated concrete form (‘ICF’) wall systems and engineered buck framing systems and ICF bracing systems marketed and sold under the Nudura, PreBuck, and Giraffe brand names; and
Foam joint sealants for commercial construction manufactured and marketed under the Schul brand name;
Expansion joint covers and fire-stopping solutions for horizontal and vertical linear joints under the Veda brand.
PCG
The company’s PCG segment products and services are sold throughout North America, as well as internationally, and are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The company’s PCG segment includes the following major product lines and brand names:
High-performance polymer flooring products and services for industrial, institutional and commercial facilities, as well as offshore and marine structures and cruise, ferry and navy ships marketed under the company’s Stonhard, Hummervoll, Kemtile, Liquid Elements and API brand names;
High-performance, heavy-duty corrosion-control coatings, containment linings, railcar linings, fireproofing and soundproofing products and heat and cryogenic insulation products for a wide variety of industrial infrastructure and oil and gas-related applications marketed under the company’s Carboline, Specialty Polymer Coatings, Nullifire, Charflame, Firefilm, A/D Fire, Strathmore, Thermo-Lag, Plasite, Perlifoc, Dudick, Farbocustic and Southwest brand names;
Specialty construction products and services for bridge expansion joints, structural bearings, bridge decks, highway markings, protective coatings, trenchless pipe rehabilitation equipment and asphalt and concrete repair products marketed under the company’s USL, Pitchmastic PMB, Nufins, Visul, Fibrecrete, Texacrete, Fibrejoint, Samiscreed, Prime Resins, Logiball and Epoplex brand names;
Fiberglass reinforced plastic gratings and shapes used for industrial platforms, staircases, walkways and raised flooring systems utilizing adjustable polypropylene pedestals marketed under the company’s Fibergrate, Chemgrate, Corgrate, Fibregrid, Safe-T-Span and Bison brand names; and
Amine curing agents, reactive diluents, specialty epoxy resins and other intermediates under the company’s Arnette Polymers brand name.
Consumer
The company’s Consumer segment manufactures and markets professional use and do-it-yourself (‘DIY’) products for a variety of mainly residential applications, including home improvement and personal leisure activities. The company’s Consumer segment’s major manufacturing and distribution operations are located primarily in North America, along with a few locations in Europe, Australia and South America. Consumer segment products are sold directly to mass merchandisers, home improvement centers, hardware stores, residential construction suppliers, paint stores, craft shops and to other customers through distributors. The company’s Consumer segment is composed of the following major product lines and brand names:
A broad line of coating products to protect and decorate a wide variety of surfaces for the DIY and professional markets which are sold under several brand names, including Rust-Oleum, Stops Rust, American Accents, Painter’s Touch, Universal, Industrial Choice, Rust-Oleum Automotive, Sierra Performance, Hard Hat, TOR, Mathys, CombiColor, Noxyde, MultiSpec and Tremclad;
Specialty products targeted to solve problems for the paint contractor and the DIYer for applications that include surface preparation, mold and mildew prevention, wallpaper removal and application, and waterproofing, sold under the company’s Zinsser, B-I-N, Bulls Eye 1-2-3, Cover Stain, DIF, FastPrime, Sealcoat, Gardz, Perma-White, Shieldz, Watertite and Okon brand names;
A line of woodcare products for interior and exterior applications for the DIY and professional markets that are sold under the Varathane, Watco and Wolman brand names;
Cleaners sold under the Krud Kutter, Mean Green, Concrobium, Whink and Jomax brand names;
Concrete restoration and flooring systems for the DIY and professional floor contractor markets sold under the Epoxy Shield, Rock Solid, Seal Krete and Concrete Saver brand names;
Metallic and faux finish coatings marketed under the company’s Modern Masters brand name;
Tile and stone sealants and cleaners under the company’s Miracle Sealants brand name;
A broad line of finishing products for the DIY and professional markets, including abrasives for hand and power sanding, cutting, grinding and surface refinishing marketed under the Gator, Finish 1st and Zip Sander brand names;
An assortment of other products, including hobby paints and cements marketed under the company’s Testors brand name; and
A complete line of caulks, sealants, adhesives, insulating foam, spackling, glazing, and other general patch and repair products for home construction, repair and remodeling marketed through a wide assortment of DAP branded products, including but not limited to, ‘33’, ‘53’, ‘1012’, 4000, 7000, Alex, Alex Fast Dry, Alex Plus, Alex Ultra, Alex Flex, AMP, Barrier Foam, Beats The Nail, Blend-Stick, Blockade, DAPtex, Draftstop, DryDex, Dynaflex 230, Dynaflex Ultra, Dynagrip, Eclipse, Elastopatch, Extreme Stretch, Fast ‘N Final, FastPatch, Fire Break, Kwik Seal, Kwik Seal Plus, Kwik Seal Ultra, Max Fill, Mono, Mouse Shield, No Warp, Patch-N-Paint, Plastic Wood, Platinum Patch, Power Point, RapidFuse, Seal ‘N Peel, SIDE Winder, Silicone Plus, Silicone Max, SMARTBOND, Storm Bond, TankBond, Touch’N Foam Pro, Touch’N Seal, Ultra Clear, and Weldwood.
SPG
The company’s SPG segment products are sold throughout North America and internationally, primarily in Europe. The company’s SPG product lines are sold directly to contractors, distributors and end-users, such as industrial manufacturing facilities, public institutions and other commercial customers. The SPG segment includes the following major product lines and brand names:
Fluorescent colorants and pigments marketed under the company’s Day-Glo and Radiant brand names;
Shellac-based-specialty coatings for industrial and pharmaceutical uses, edible glazes, food coatings and ingredients marketed under the company’s Mantrose-Haeuser, NatureSeal, Profile Food Ingredients and Holton Food Products brand names;
Fire and water damage restoration products marketed under the Dri-Eaz, Unsmoke and ODORx brand names;
Professional carpet cleaning and disinfecting products marketed under the Sapphire Scientific, Chemspec and Prochem brand names;
Fuel additives marketed under the company’s ValvTect brand name;
Wood treatments marketed under the company’s Kop-Coat and TRU CORE brand names;
Pleasure marine coatings marketed under the company’s Pettit, Woolsey, Z-Spar and Tuffcoat brand names;
Wood coatings and touch-up products primarily for furniture and interior wood applications marketed under the company’s FinishWorks, Mohawk, and Morrells brand names;
A variety of products for specialized applications, including powder coatings for exterior and interior applications marketed under the company’s TCI brand name; and
Nail enamel, polish and coating components for the personal care industry.
Foreign Operations
The company has manufacturing facilities in Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Colombia, France, Germany, India, Italy, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Poland, South Africa, South Korea, Spain, Sweden, Turkey, the United Arab Emirates and the United Kingdom. The company also has sales offices or warehouse facilities in Costa Rica, the Czech Republic, the Dominican Republic, Estonia, Finland, Guatemala, Hong Kong, Hungary, Indonesia, Ireland, Namibia, Oman, Pakistan, Panama, Peru, the Philippines, Puerto Rico, Qatar, Singapore, Slovakia, Switzerland, Thailand and Vietnam.
Intellectual Property
Among the company’s most significant intangibles are the company’s Rust-Oleum, Carboline, DAP, illbruck and Tremco trademarks.
Rust-Oleum Corporation and some of the company’s other subsidiaries own more than 860 trademark registrations or applications in the United States and numerous other countries for the trademark ‘Rust-Oleum’ and other trademarks covering a variety of rust-preventative, decorative, general purpose, specialty, industrial and professional products sold by Rust-Oleum Corporation and related companies.
Carboline Company and some of the company’s other subsidiaries own more than 510 trademark registrations or applications in the United States and numerous other countries covering the products sold by the Carboline Company and related companies, including two United States trademark registrations for the trademark ‘Carboline’.
DAP Global, Inc. and other subsidiaries of the company own nearly 400 trademark registrations or applications in the United States and numerous other countries for the ‘DAP’ trademark, the ‘Putty Knife design’ trademark and other trademarks covering products sold under the DAP brand and related brands.
Tremco CPG Inc. and some of the company’s other subsidiaries own more than 90 registrations or applications for the trademark ‘Tremco’ in the United States and numerous countries covering a variety of roofing, sealants and coating products. There are also many other trademarks of Tremco CPG Inc. and some of the company’s other subsidiaries that are the subject of registrations or applications in the United States and numerous other countries, bringing the total number of registrations and applications covering products sold under the Tremco brand and related brands to more than 1,000.
The company’s other principal product trademarks include: 2X Ultra Cover, AlphaGuard, Alumanation, Betumat, B-I-N, Bitumastic, Bulls Eye 1-2-3, Chemgrate, Dri-Eaz, Dymonic, EnerEDGE, Enviro-Dri, EUCO, ExoAir, Flecto, Fibergrate, Floquil, Paraseal, PermaroofTM, Plasite, Proglaze, Sanitile, Sealtite, Solargard, Spectrem, Stonblend, Stonclad, Stonhard, Stonlux, Stonshield, Testors, TREMproof, TUFF-N-DRI, Varathane, Viapol, Vulkem, Watchdog Waterproofing, Woolsey, Zinsser and Z-Spar; and, in Europe, API, Perlifoc, Hummervoll, USL, Nufins, Pitchmastic PMB, Visul, Flowcrete, Nullifire, Radglo and Martin Mathys. The company’s trademark registrations are valid for a variety of different terms of up to 15 years.
Seasonal Factors
The company historically experiences stronger sales and operating results in the company’s first, second and fourth fiscal quarters, which are the three-month periods ending August 31, November 30 and May 31, respectively, while the company has experienced weaker performance in the company’s third fiscal quarter (year ended May 2023).
Customers
Sales to the company’s ten largest Consumer segment customers, such as DIY home centers, on a combined basis represented approximately 25% of the company’s total net sales for the year ended May 31, 2023.
The company’s key customers in the Consumer reportable segment include Ace Hardware, Amazon, Do It Best, The Home Depot, Inc., Lowe’s, Menards, Orgill, True Value, W.W. Grainger, and Wal-Mart. Within the company’s Consumer segment, sales to these customers accounted for approximately 67% of net sales for the year ended May 31, 2023. On a consolidated basis, sales to these customers across all of the company’s reportable segments accounted for approximately 25% of the company’s consolidated net sales for the year ended May 31, 2023. Sales to The Home Depot, Inc. represented less than 10% of the company’s consolidated net sales for the year ended May 31, 2023, and 23% of the company’s Consumer segment net sales for the year ended May 31, 2023.
Research and Development
During the year ended May 31, 2023, approximately $86.6 million was charged to expense for research and development activities.
Competition
Companies that compete in the company’s markets include Akzo Nobel, Axalta Coating Systems Ltd., Carlisle Companies Inc., H.B. Fuller, Masco Corporation, PPG Industries, Inc., The Sherwin-Williams Company and Sika AG.
History
RPM International Inc. was founded in 1947. The company was incorporated in 1947.
