Here are some of the key moves we are watching, beginning with the most recent; we will add to the list as new acquisitions are reported:
Acquiring Company: KANSAI HELIOS
Acquired Company: WEILBURGER Coatings
Date of Acquisition: February 2024
Comments: On Feb. 9, 2024, KANSAI HELIOS signed a share purchase agreement with GREBE Holding in Weilburg, Germany to acquire its entire industrial coatings business (WEILBURGER Coatings), an industrial coatings producer, especially in the fields of non-stick, high temperature, railway and other industrial specialty coatings. WEILBURGER had a turnover of approximately €150 million. Terms were not disclosed.
Link to More Information:
KANSAI HELIOS to Acquire WEILBURGER Coatings
Acquiring Company: MIPA
Acquired Company: Industrial Division of HAERING GmbH
Date of Acquisition: January 2024
Comments: MIPA SE has taken over the industrial coatings division of HAERING GmbH from Unterheinriet (near Heilbronn) with retroactive effect from Jan. 1, 2024. Production of the acquired products will be relocated to Mipa Group sites during the first quarter and customer support will be gradually taken over by MIPA SE. The HAERING GmbH sites and the HAERING brand and its product names are not part of the takeover. Terms were not disclosed.
Link to More Information:
MIPA Takes Over Industrial Division of HAERING GmbH
Company Ceasing Operations: Kelly-Moore Paint Compay
Date of Closure: January 2024
Comments: Kelly-Moore Paint Company, the 37th largest worldwide paint company according to our 2023 Top Companies Report, immediately ceased operations in January 2024. The decision to close was driven largely cash drains caused by asbestos legal settlements, which have totaled approximately $600 million with more liabilities expected.
Link to More Information:
Kelly-Moore Paint Company Ceases Operations
Acquiring Company: ALTANA
Acquired Company: Silberline
Date of Acquisition: January 2024
Comments: ALTANA has entered into an agreement to acquire the Silberline Group, a specialist in effect pigments that had sales of $80 million in 2022. This move, once completed, will expand ALTANA’s ECKART Division, most notably in North America and Asia. Terms were not disclosed.
Link to More Information:
ALTANA to Acquire Silberline, Expands Global Presence in Effect Pigments
Acquiring Company: Rodda Paint
Acquired Company: Valley Paint
Date of Acquisition: November 2023
Comments: Rodda Paint acquired Valley Paint Manufacturing, Woods Cross, Utah. Valley Paint will continue to operate independently in the Salt Lake City area with the support of Rodda Paint Co. Terms were not disclosed.
Link to More Information:
Rodda Paint Acquires Valley Paint
Acquiring Company: Geveko Markings
Acquired Company: PPG’s Traffic Solutions Operations in Australia and New Zealand
Date of Acquisition: October 2023
Comments: PPG divested all Traffic Solutions operations in Australia and New Zealand to Geveko Markings, a pavement markings specialist headquartered in Sweden.
Link to More Information:
PPG Divests Traffic Solutions Operations in Australia and New Zealand
Acquiring Company: AkzoNobel
Acquired Company: Sherwin-Williams’ Chinese Architectural Paint business
Date of Acquisition: August 2023
Comments: AkzoNobel added to its position in China by acquiring Sherwin-Williams’ Chinese Architectural Paints business. The business has an annual revenue of approximately €100 million and employs around 300 people, and includes the Huarun brand, which is well recognized in China.
Link to more information:
AkzoNobel Acquires Chinese Decorative Paints Business from Sherwin-Williams
Acquiring Company: Briolf
Acquired Company: Intec
Date of Acquisition: July 2023
Comments: INTEC is a leader in the automotive refinishing paint sector and has successfully developed a line of putties, pastes and adhesives focused on the composite materials sector. The acquisition adds to the value proposition in the bodywork market with a brand and clientele complementary to Briolf subsidiary Roberlo’s business.
Link to more information:
Briolf Acquires INTEC
Acquiring Company: Kansai Helios
Acquired Company: Beckers Group Railway Coatings business
Date of Acquisition: May 2023
Comments: The asset purchase agreement for the sale of the railway coatings business of Beckers´ company Becker Industrie SAS, Montbrison (France) was signed on Dec. 9, 2022. The transaction is an outcome of Beckers’ strategic review and part of the transformation of Beckers into a focused sustainable innovation-based leader.As a part of this transaction, Kansai Helios will establish its first subsidiary in France, Kansai Helios France SAS. With this acquisition Kansai Helios will further strengthen its competitive position in the railway coatings sector in Europe and worldwide. Terms were not disclosed.
Link to More Information:
Beckers Announces Sale of Railway Coatings Business to Kansai Helios
Acquiring Company: Diamond Vogel
Acquired Company: N92 Menomonee Falls, LLC, a subsidiary of The Sherwin-Williams Company
Date of Acquisition: April 2023
Comments: N92 Menomonee Falls, LLC, a subsidiary of The Sherwin-Williams Companybased in Menomonee Falls, WI, produces color-match touch-up paint, custom aerosol, and other specialty coatings. Adding the facility allows Diamond Vogel to accelerate its aerosol growth strategy.
Link to More Information:
Diamond Vogel Acquires Aerosol Manufacturing Facility in Menomonee Falls, WI
Acquiring Company: Stahl
Acquired Company: ICP Industrial Solutions Group (ISG)
Date of Acquisition: March 2023
Comments: A leader in specialty coatings for flexible substratesStahl added ISG, a division of Innovative Chemical Products (the ICP Group), which manufactures high-performance coatings used primarily in packaging and labeling applications. ISG had estimated sales of approximately $140 million in 2022. Terms were not disclosed.
Link to More Information:
Stahl Completes Acquisition of ICP Industrial Solutions Group
Acquiring Company: Mipa Group
Acquired Company: Warnecke & Böhm
Date of Acquisition: January 2023
Comments: MIPA acquired the business of Warnecke & Böhm GmbH, an industrial coatings specialist, while maintaining the WB Coatings brand, on Jan. 1, 2023. The product range and customer relations of Warnecke & Böhm will be organized primarily by Feycolor GmbH in Regensburg, Germany, which belongs to MIPA.Terms were not disclosed.
Link to More Information:
Mipa Group Acquires Warnecke & Böhm