Flowcrete flooring bought by RPM International

Cheshire-based flooring manufacturer Flowcrete has been bought for an undisclosed sum by the New York Stock Exchange-listed RPM International.

Flowcrete’s management team said jobs are safe and the deal will help enable the company to grow and expand internationally.

Started in 1982, the business achieved sales of more than £44m in 2007, a 24% increase on 2006.

It employs 350 people worldwide in 30 offices and 12 manufacturing plants.

It will continue to be led by group managing director Mark Greaves.

Flowcrete chair Dawn Gibbons said: “For several months, we have been looking at ways to raise funds for the group, which would give it the financial muscle to make further acquisitions.”

RPM International is a multinational holding company with subsidiaries that manufacture and market high-performance coatings, sealants and speciality chemicals. Sales in 2007 were £1.6 billion.