EX-99.2 3 exhibit2.htm EX-99.2 EX-99.2

Exhibit 99.2

Terms of Definitive Purchase Agreement

     
Seller
  Illbruck GmbH, a limited liability company organized
under the laws of Germany (“Seller”)
 
   
Purchasers
  Tremco Germany GmbH, an indirect,
wholly owned subsidiary of RPM International Inc. (the
“Company”); and
RPOW U.K. Limited, an indirect, wholly
owned subsidiary of the Company
 
   
Date of Agreement
  July 22, 2005
 
   
Shares to be Purchased
  All outstanding shares of Illbruck
Bau-Technik GmbH, a limited liability company organized
under the laws of Germany, and its subsidiaries; and
All outstanding shares of Illbruck
Holdings Limited, a limited liability company organized
under the laws of England and Wales, and its
subsidiaries
 
   
Guarantor for
Purchasers
  The Company has guaranteed the obligations of Tremco
Germany GmbH and RPOW U.K. Limited under the agreement.
 
   
Purchase Price
  Cash in an aggregate amount of less than one times sales
 
   
Non-Competition
Agreements
  Seller’s owners, Sabina and Michael Illbruck, have
agreed to enter into non-competition agreements.
 
   
Representations and
Warranties
  Seller has made customary representations and
warranties and covenants.
 
   
Conditions
  The closing is subject to customary conditions
including appropriate European government approvals.
 
   
Timing
  The parties currently anticipate that the acquisition
will close in August or September 2005. If the closing
has not occurred within five months of the date of
signing, either party may terminate the agreement.