September 12, 2016 by Canadian Plastics
Specialty Polymer Coatings Inc. (SPC), a Langley, B.C.-based supplier of coatings for the oil and gas pipeline industry, has been purchased by RPM International Inc., an American manufacturer of coatings, sealants, and building materials.
The terms of the deal have not been disclosed.
In addition to its headquarters in Langley, SPC also has a manufacturing plant in Brantford, Ont. and a warehouse in Angleton, Tex. In a statement, Medina, Ohio-based RPM said that SPC has approximately $26 million in net annual sales.
The SPC product line is comprised predominantly of 100 per cent solids epoxy and urethane coatings that contain no volatile organic compounds. They are specified and sold for the maintenance and construction of steel pipes, railway cars, tank linings, steel structures, and marine applications.
Frank Sullivan, RPM’s chairman and CEO, said the deal will build on the company’s position in the pipeline market.
After the deal closes, SPC will operate as an independent business within RPM’s Performance Coatings Group.