RPM's Stonhard Acquires National Building Facilities Services.
NBFS, based in Philadelphia, PA, offers day-to-day janitorial and facility care services to businesses that require daily upkeep and regularly scheduled facility maintenance, including healthcare facilities, warehouses/distribution centers, retail stores, supermarkets, etc. In addition, they offer post- construction cleanup services to general contractors throughout the Mid- Atlantic region. NBFS' existing customer base includes large regional and national companies like Pathmark and ShopRite supermarkets; RiteAid and Eckerd drug stores; Dunkin Donuts, WaWa, and Stop-n-Shop stores; and Office Depot and BestBuy retail stores.
Stonhard, a world leader in high-performance polymer systems, provides a wide range of seamless flooring solutions for applications that demand durability, cleanability, chemical resistance and aesthetic appeal. These premium products have set the flooring standard for industrial and commercial facilities around the world. Whether it's a food processing facility or a university cafeteria, a chemical processing facility or a high-profile healthcare facility - Stonhard engineers a solution to provide complete facility protection. From floor design and custom color creation, to product manufacture, installation and warranty, Stonhard's turnkey approach offers customers a single-source solution from start to finish.
With the acquisition of NBFS, Stonhard is able to enhance its after-sale service offerings to include on-going facility maintenance, while NBFS can capitalize on Stonhard's existing nationwide network of local territory managers and field engineers to grow its operations from coast to coast. Both companies market their products and services to facility owners. NBFS subcontractors are in a position to recognize flooring problems and recommend high-quality solutions, while Stonhard territory managers can now add after- sale cleaning services to complete their line of product and service offerings. Together, Stonhard and NBFS can now envelop every customer in total facility care.
NBFS, with sales of approximately $10 million, is projected to achieve significant revenue growth in the near term, with synergies between NBFS and Stonhard facilitating strategic future revenue growth. "Both companies are now in a position to strengthen their existing core customer relationships with new products and services that add value to their facility care solutions," says David Reif, CEO, The StonCor Group, Inc. "While NBFS is still a relatively small company the business model is scalable and represents double-digit growth potential for the next several years. The similarities in both Stonhard's and NBFS' direct operating models, with high levels of control and a strong commitment to service, make this acquisition an exceptional fit and a profitable venture for everyone."
RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings and sealants serving both industrial and consumer markets. RPM's industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Industrial brands include Stonhard, Tremco, Carboline, Day-Glo, Euco and Dryvit. RPM's consumer products are used by professionals and do-it- yourselfers for home maintenance and improvement, automotive and boat repair and maintenance, and by hobbyists. Consumer brands include Zinsser, Rust- Oleum, DAP, Varathane, Bondo and Testors.
For more information, contact Glenn R. Hasman, vice president of finance and communications, at 330-273-8820 or firstname.lastname@example.org .
This press release contains "forward-looking statements" relating to the business of the company. These forward-looking statements, or other statements made by the company, are made based on management's expectations and beliefs concerning future events impacting the company and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond the control of the company. As a result, actual results of the company could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) general economic conditions; (b) the price and supply of raw materials, particularly titanium dioxide, certain resins, aerosols and solvents; (c) continued growth in demand for the company's products and services; (d) legal, environmental and litigation risks inherent in the company's construction and chemicals businesses and risks related to the adequacy of the company's insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon the company's foreign operations; (g) the effect of non- currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with the company's ongoing acquisition and divestiture activities, including realization of any projected revenue growth and acquisition-related synergies; (i) risks related to the adequacy of its contingent liability reserves, including for asbestos-related claims; and other risks detailed in the company's other reports and statements filed with the Securities and Exchange Commission, including the risk factors set forth in the company's prospectus and prospectus supplement included as part of the company's Registration Statement on Form S-4 (File No. 333-114259), as the same may be amended from time to time. RPM does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
CONTACT: Glenn R. Hasman, vice president of finance and communications of RPM International Inc., +1-330-273-8820, or email@example.com
Web site: http://www.rpminc.com/
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|Date:||May 6, 2005|
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