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AMERICAN INDUSTRIAL PARTNERS TO ACQUIRE PPG'S ARCHITECTURAL COATINGS BUSINESS IN THE UNITED STATES AND CANADA
PPGPPG Industries(PPG) Prnewswire·2024-10-17 12:35

Core Insights - American Industrial Partners (AIP) has entered into a definitive agreement to acquire PPG's architectural coatings business in the U.S. and Canada, which generated approximately 2billioninrevenuein2023[1][2]−Thetransactionisexpectedtocloseinlate2024orearly2025,pendingcustomaryclosingconditions[1]−AIPaimstoleverageitsoperationalexpertiseandcustomerfocustoenhancethearchitecturalcoatingsbusinessandexpandintonewmarkets[3]CompanyOverview−PPG′sarchitecturalcoatingsbusinessisaleadingproducerofvariouspaintandcoatingproducts,includinginteriorandexteriorpaints,stains,andadhesives,withastrongmarketpresenceandiconicbrandssuchasGLIDDEN®andDULUX®[2]−Thebusinessemploysover6,000individualsacrossitsU.S.andCanadianfacilities,whichinclude750company−ownedstores[2]−AIPmanagesapproximately2 billion in revenue in 2023 [1][2] - The transaction is expected to close in late 2024 or early 2025, pending customary closing conditions [1] - AIP aims to leverage its operational expertise and customer focus to enhance the architectural coatings business and expand into new markets [3] Company Overview - PPG's architectural coatings business is a leading producer of various paint and coating products, including interior and exterior paints, stains, and adhesives, with a strong market presence and iconic brands such as GLIDDEN® and DULUX® [2] - The business employs over 6,000 individuals across its U.S. and Canadian facilities, which include 750 company-owned stores [2] - AIP manages approximately 16 billion in assets and focuses on industrial businesses across diverse markets, aiming to generate differentiated returns through strategic investments [4]