MEDINA, OHIO (Aug. 3, 12:15 p.m. ET) — RPM International Inc. has acquired API SpA, a $28 million producer and installer of polyurethane and urethane-based flooring and decking solutions for cruise ships, mega-yachts and naval applications.
Terms were not disclosed. API, which is based in Genoa, Italy, also makes epoxy and polyurethane flooring systems for the construction market.
Managing director Giorgio Magnaghi, grandson of API founder Mario Magnaghi, will remain with the company.
Medina-based RPM said API will add to its presence in the decorative flooring market.