It was crucial to select a banker who would treat Miracle Sealants with that level of importance and respect. We found it in Intrepid—they showed exceptional dedication and competence to find us the right partner to take the company and its brands to the next chapter.
Los Angeles, Calif. (PRWEB) March 22, 2018
Intrepid today announced that it acted as the exclusive financial advisor to Miracle Sealants Company, the leader in the professional stone, tile and grout care products category, on its sale to Rust-Oleum Corporation, a subsidiary of RPM International. Founded in 1984 by tile and stone industry veteran Elio Salvo, Miracle Sealants pioneered the stone, tile and grout care and maintenance industry when it launched the revolutionary 511 Impregnator product line. Since then, the company has grown into the largest dedicated care and maintenance business in the category, with nationwide distribution in Home Depot, Lowe’s, Menards and Floor & Decor as well as many of the leading tile and stone retailers.
“We congratulate Al and Joe and their families for carrying on Elio’s legacy and building Miracle Sealants into the undisputed leader in professional stone, tile and grout care products for the past 35 years,” said Ed Bagdasarian, CEO and Managing Director at Intrepid. “This transaction will enable Miracle to continue its evolution from the leading independent provider of tile and stone care and maintenance to a global flooring solutions leader as part of Rust-Oleum’s family of world-class surface protection solutions.”
“Joe and I were thrilled with the commitment, care and savvy that the Intrepid team brought to deliver an outstanding result for us. We’ve worked diligently to build this company and brand into a recognized leader in its category and finding the suitor who would best maximize its potential was of utmost importance for us. They took the time to understand our company and our vision, and used their knowledge of the building products sector to position us perfectly with the various suitors,” said Al Salvo, Co-CEO of Miracle Sealants. Further commenting, Joe Salvo, Co-CEO of Miracle Sealants, said: “With the fourth generation of Salvos working in the business, the company had more than economic importance to us. It was crucial to select a banker who would treat Miracle Sealants with that level of importance and respect. We found it in Intrepid—they showed exceptional dedication and competence to find us the right partner to take the company and its brands to the next chapter.”
“Miracle Sealants is an excellent strategic fit that adds another platform within Rust-Oleum’s hard surface care product portfolio,” stated Frank C. Sullivan, Chairman and CEO of RPM. “Leveraging the Rust-Oleum global distribution, sales and marketing network will drive sales growth.”
Miracle Sealants is based in Arcadia, Calif., and manufactures sealers, cleaners, polishes and related products primarily for tile and natural stone. Headquartered in Medina, Ohio, RPM owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments.
About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity, and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.