Sapphire Scientific sold to RPM!

[Mikey P]

Thursday September 22, 2011


RPM International to acquire Legend Brands
8:16 am, September 22, 2011

RPM International Inc. (NYSE: RPM) said its RPM2 business unit has agreed to acquire the Legend Brands family of companies, which provide equipment and services related to water and fire damage restoration, professional cleaning and environmental control.

The Medina-based maker of coatings and sealants did not say how much it will pay for Legend Brands, which is based in Burlington, Wash., and has annual sales of more than $70 million. However, RPM did say it expects the transaction to be accretive to earnings within one year.

“Many of the products and services within the RPM portfolio of companies have traditionally focused on protecting the built environment from harmful and corrosive elements," Frank C. Sullivan, RPM chairman and CEO, said in a statement. “Legend Brands will extend our reach a step further — to the restoration of property when the elements do infiltrate a structure. We will continue to seek acquisitions, like Legend Brands, that are in adjacent categories to our traditional markets, but still fit strategically."

Legend Brands is comprised of three companies: Dri-Eaz Products, a provider of tools for water damage restoration and environmental control; ProRestore Products, providing odor, smoke and microbial control applications; and Sapphire Scientific, a provider of carpet cleaning chemicals, tools and equipment.

Legend Brands has distribution in 15 countries and customers in 20 countries. It will remain a stand-alone operation within RPM2 and will continue to be led by its existing management team, headed by Bill Bruders, chief executive officer.

RPM also owns Chemspec and Rustolium.

 

[hogjowl]

Let me know when they purchase TCS.

 

[Bob Foster]

Wow!

http://ir.rpminc.com/phoenix.zhtml?c=75 ... rol-irhome

 

[Bob Foster]

Chemspec and Sapphire Juices hmmmmm? I wonder what will happen there?

More shelf space per distributor - more distributors???

I would like to have been a fly on the wall in the Legends/Skagit boardroom the last few quarters.

Congratulations Bill, I bet this adds even more horsepower to what you've been doing!

 

[floorguy]

yet another sale???

whats that make it 4? 5?

 

[Giorgio]

Great....

Does this mean they're gonna discontinue their Sapphire TM line and quit supporting them too?

 

[Mikey P]

yeah George, they paid umpteen millions just for the rights on the Stryker wand :roll:

 

[John Watson]

Lets hope they do better with LB than they did with Chem Spec, Bob Hughes had CS as the #1 CC Juice for all us professional wana bees. Their formula 90 rocked, plus they had a great line of compatables. Aaron of MB was groomed by Bob. After the sale it went to hell. They wern't Bob and Aaron didn't stay long, They started their decline in our industry. Still had great products but lost it with us the buyers of the juice and the little guys improved their chit and took over.

Glad Billy and team is staying on. Hopefully they will let them continue with the aggresive behavior that LB let them have had since they got CB to bow out.

 

[Desk Jockey]

RPM bought my Marketing and Management package too. Look for a press release soon.

 

[joe harper]

I am happy for BIll & crew.... 8)

However.....This may be more of a BAIL-OUT....than a profitable acquisition... :idea:

Horrible market for this Industry....CASH IS KING...!
I can only assume RPM...made ONE HELL OF A DEAL... !gotcha!

Simply follows the 10 year trend....of MONEY....BUYING-OUT competition...rather than
competing in the MARKET PLACE...

PURCHASE ...."Market Share" ....GO PUBLIC...INFLATE VALUE OF THE STOCK...SKIM ALL
THE PROFIT...DUMP THE DEBT ON THE STOCKHOLDERS..."Then ride off into the SunSeT"

"THE RICH GET RICHER".................Welcome to CroNY cApiTaLisM....


Congrats Anyway....!!!!!!
I Hope you & your employees are in a better place... :!:

 

[hogjowl]

I just wasted 10 seconds reading that ...

 

[joe harper]

I just wasted 10 seconds reading that ...

Maybe you should READ it again... :idea:

At the RATE you are DOWNSIZING...."You should SALE NOW...& buy another SOW.."..... :mrgreen:

 

[Ron K]

Start making your own Juice and Equipment?
How do you spell TYCO?

 

[The Great Oz]

I was very impressed with the Chemspec guys at Connections. Seemed like a very sharp group of energetic people. They said that they were re-energized about the cleaning biz and getting the Chemspec name back to the top of the industry, and they admitted that they'd been asleep for quite awhile.

Looks like they're awake.

 

[Jimmy L]

I've seen it before in other industries.

Build it up and sell it, then the new buyers eliminate it by liquidation.

Stryker wands will be melted down and made into ToILeT sEATS.

 

[steve g]

wonder if these new guys will want to make the vortex or a big truck knockoff maybe yorkie should see if they have any job openings.

 

[Shorty]

RPM bought my Marketing and Management package too. Look for a press release soon.

WOW !!!!



That's PHENOMENAL.

shiteatinggrin

 

[joeynbgky]

So a company we have been drawn too lately and who I was beginning to trust is being sold.. very disappointed. Why does bill just buy it? He runs it anyways lol

Sent from my T-Mobile G2 using Tapatalk

 

[floorguy]

wonder if these new guys will want to make the vortex or a big truck knockoff maybe yorkie should see if they have any job openings.

now THAT is one of the funniest things you have said....

 

[Bill Bruders]

Good Afternoon
I'd like to start off by making sure that everyone knows that Legend Brands was purchased by RPM International not just a part of the company. Legend Brands will be a standalone business within the RPM2 group of companies not absorbed into an existing business. RPM is an American Business, publically traded, whose CEO Frank Sullivan is the third generation to operate the business founded by his grandfather. Unlike the other big companies who are foreign owned, RPM has the same values that many Americans share. They are loyal to their employees, and their customers. Their products are number 1 in many of the markets they serve because consumers trust them. While there may be folks who disagree, the name RUST-OLEUM has always meant the best in its class to me as just one example.

I don't see anything changing in any way other than the potential expansion of our products in both current markets and new ones. I'm honestly quite proud of the fact that RPM choose Legend Brands for their first company that is focused on equipment manufacturing it says a lot about the people who work here and the products they produce. On a personal note I’m here for the long run and will be doing the same job I have always done. I plan to finish up my professional career with Legend Brands and believe the announcement today makes that real.

 

[Mikey P]

Cool!

Time for a bigger banner shiteatinggrin

 

[steve g]

Good Afternoon
I'd like to start off by making sure that everyone knows that Legend Brands was purchased by RPM International not just a part of the company. Legend Brands will be a standalone business within the RPM2 group of companies not absorbed into an existing business. RPM is an American Business, publically traded, whose CEO Frank Sullivan is the third generation to operate the business founded by his grandfather. Unlike the other big companies who are foreign owned, RPM has the same values that many Americans share. They are loyal to their employees, and their customers. Their products are number 1 in many of the markets they serve because consumers trust them. While there may be folks who disagree, the name RUST-OLEUM has always meant the best in its class to me as just one example.

I don't see anything changing in any way other than the potential expansion of our products in both current markets and new ones. I'm honestly quite proud of the fact that RPM choose Legend Brands for their first company that is focused on equipment manufacturing it says a lot about the people who work here and the products they produce. On a personal note I’m here for the long run and will be doing the same job I have always done. I plan to finish up my professional career with Legend Brands and believe the announcement today makes that real.

so I guess that doesn't look good for yorkies employment prospects.

 

[Giorgio]

wonder if these new guys will want to make the vortex or a big truck knockoff maybe yorkie should see if they have any job openings.

I wonder how RPM would have handled The litigation?

It's very nice to here that RPM is American Owned.

 

[ruff]

Good Afternoon
I'd like to start off by making sure that everyone knows that Legend Brands was purchased by RPM International not just a part of the company. Legend Brands will be a standalone business within the RPM2 group of companies not absorbed into an existing business. RPM is an American Business, publically traded, whose CEO Frank Sullivan is the third generation to operate the business founded by his grandfather. Unlike the other big companies who are foreign owned, RPM has the same values that many Americans share. They are loyal to their employees, and their customers. Their products are number 1 in many of the markets they serve because consumers trust them. While there may be folks who disagree, the name RUST-OLEUM has always meant the best in its class to me as just one example.

I don't see anything changing in any way other than the potential expansion of our products in both current markets and new ones. I'm honestly quite proud of the fact that RPM choose Legend Brands for their first company that is focused on equipment manufacturing it says a lot about the people who work here and the products they produce. On a personal note I’m here for the long run and will be doing the same job I have always done. I plan to finish up my professional career with Legend Brands and believe the announcement today makes that real.

That, Dear Bill, is an oxymoron.
What's the next claim: Pigs can fly.??!
(Let's ask Merty about that.)

Publicly traded companies = Loyalty to no one. NO ONE.
ProChem = Chemspec = Karcher = Legend Brand = RPM international =______________ (fill in the blank large merger and acquisition company/conglomerate.)

We loved the story of the little guys who got kicked out by Karcher getting back at them. It is not as cute a story any more. Congratulations on cashing in. Can't blame you.

It is high time to support the small guys in hope they stay small and independent.

P.S. small is beautiful

 

[Mikey P]

Ofer, Ofer :roll: :roll:


You underestimate Bill The Business Barbarian..

 

[Ken Snow]

Ofer- not sure where you got your thought process, but in my opinion pub traded companies does not equal bad things or that they are loyal to no one. Sure there are some bad examples that you might be able to taught but I for one am an invester in many (as in anyone with a 401k or IRA, Stocks etc). I also think there are many examples of publicly traded companies that are doing a good job for their communities & consumers as well as stockholders.

 

[Ken Snow]

Ps.

Could a publicly traded company make an argument that OO carpet cleaners talking about raising their prices so they can make more money are looking out for anyone but themselves?

 

[Mikey P]

Is anyone else a little surprised that not a single SS distributor has commented yet?


I think there all in sh :shock: ck over the news that they now have to sell Ace Brand slide ins...

 

[Bill Soukoreff]

I was very impressed with the Chemspec guys at Connections. Seemed like a very sharp group of energetic people. They said that they were re-energized about the cleaning biz and getting the Chemspec name back to the top of the industry, and they admitted that they'd been asleep for quite awhile.

Looks like they're awake.

I agree. I recently rediscovered Chemspec and am quite pleased. I talked a few times with the Canada branch and they are really out to recapture business.

 

[Zee]

Is anyone else a little surprised that not a single SS distributor has commented yet?


I think there all in sh :shock: ck over the news that they now have to sell Ace Brand slide ins...

My opinion is (I base this on about 13 years of dealing with them) that a bunch of distys don't even know about the deal yet... :roll: So many times I talk to a distributor about things, or issues, or events that our happening in our industry and they are just looking at me like "what are you talking about" :shock: ...
Seriously- some of us on the board have more clue and a better grip on whats new and what is happening in our idustry than some distributors. :roll: :roll: