Medina, Ohio-based RPM International Inc. has acquired the foam division of Clayton Corp. for an undisclosed amount, according to a news release.
The foam division, which will become part of RPM's DAP business, is located near St. Louis and has annual sales of about $60 million. The division is best known for its consumer polyurethane foam brand Touch 'N Foam, the release stated, but it also makes the Touch 'N Seal brand for the professional industrial market. Both mainly serve North America.
The foams are used to "eliminate air leaks and drafts, seal gaps and cracks, and insulate against the elements," according to the release.
The transaction is expected to be accretive to earnings "within one year," RPM said in the release.
RPM announced a number of acquisitions in 2016; the most recent was its agreement to purchase coatings company SPS Group of the Netherlands.