PPG And Bain Capital Sign Agreement For Sale Of SigmaKalon

PPG Industries announced that its offer to acquire SigmaKalon Group, a worldwide coatings producer, from global private investment firm Bain Capital has been accepted.

PPG and Bain Capital signed a Sale and Purchase Agreement upon the completion of discussions with appropriate employee representative bodies.

The total transaction value, including assumed debt, is approximately €2.2 billion. The acquisition continues to be subject to receipt of regulatory approvals.

“The process of consulting with and obtaining advice from the relevant employee representative bodies was cooperative and constructive,” said Michael H. McGarry, Vice President, Coatings, and Managing Director, PPG Europe. “As a result, we completed this phase of the process and are now seeking approvals from several regulatory agencies in Europe and elsewhere.”

Based in Uithoorn, Netherlands, SigmaKalon produces architectural, protective, marine and industrial coatings, and is a leading coatings supplier in Europe and other key markets across the globe. The acquisition would give PPG a stronger, more balanced coatings business in Europe.

"We are pleased with how the sale process has progressed, and continue to be pleased with management’s efforts to move the business forward,” said Steve Barnes, Managing Director at Bain Capital based in Boston. "SigmaKalon has very successfully developed over the last four years into a best-in-class global coatings company, and we believe the combination with PPG will allow the company to continue – and in some areas accelerate – its successful strategy,” added Walid Sarkis, a Managing Director at Bain Capital based in London.

600450 PPG And Bain Capital Sign Agreement For Sale Of SigmaKalon glassonweb.com

See more news about:

Others also read

New STEM education facility at Carnegie Science Center targeted to open in 2018.
PPG has designed and produced windows for the Breakthrough Laminar Aircraft Demonstrator in Europe (BLADE), a Clean Sky Smart Fixed Wing Aircraft Integrated Technology Demonstrator (SFWA ITD).
PPG reaches agreement with Nippon Electric Glass for sale of remaining fiberglass operations.
PPG and Vision Systems have reached a commercial agreement to work together on developing new applications utilizing Vision Systems’ electronically dimmable window shading solutions for aircraft.
Annual conference for decorated glass and ceramics set for Pittsburgh, April 22-24.
$55 million investment to enable production of jumbo-sized energy-efficient glass

Add new comment