Terms of the sale of the Newark wallpaper maker were not disclosed.Thibaut, a Newark-based wallpaper maker, has been sold to The Riverside Co. by its former parent company, RPM International (NYSE: RPM), for an undisclosed sum. The sale comes on the heels of the appointment of Bob Senior as CEO of Thibaut.
Senior previously served as the president of the Zinsser division of RPM, which included Thibaut. Moreover, ThibautÂs management team and Senior are partners in The Riverside Co. The new CEO said the move shows that the company is poised for growth.
Riverside is a private equity firm focused on buying out companies valued under $100 million. Its portfolio includes 41 companies in the U.S. and Europe.
RPM stock gained $0.18 to $18.24 in afternoon trading.