PPG to review strategic alternatives for architectural coatings business in the U.S. and Canada
February 26, 2024
PITTSBURGH--(BUSINESS WIRE)-- PPG (NYSE: PPG), a global leader in paints, coatings, and specialty materials, today announced that it has engaged Goldman Sachs & Co. LLC as financial advisor to assist in a review of strategic alternatives for its architectural coatings business in the U.S. and Canada.
PPG’s architectural coatings business in the U.S. and Canada, which operates within the company’s performance coatings segment, is an industry leader in residential and commercial architectural coatings through its well-known portfolio of brands, including GLIDDEN®, OLYMPIC®, LIQUID NAILS®, HOMAX®, PITTSBURGH PAINTS & STAINS®, Manor Hall®, FLOOD®, DULUX® (in Canada), and SICO®, among others. The business manufactures and sells interior and exterior paints, stains, caulks, repair products, adhesives, and sealants for homeowners and professionals. It also includes certain light-duty protective coatings products that are primarily sold through company-owned stores and manufactured...
Houston, TX (December 18, 2023) – Samyang Holdings announced today that it has acquired the management rights of the U.S.-based specialty chemical manufacturer Verdant Specialty Solutions from private equity firm OpenGate Capital. The total acquisition amount was approximately USD 250 million.
This move is in line with Samyang Group’s push to strengthen its specialty business interests and accelerate its global operations as the group aims to achieve an annual revenue of KRW 6 trillion (approximately USD 4.6 billion) by 2025.
Headquartered in Texas, Verdant has been incorporated as a subsidiary of Samyang Holdings. Verdant’s main business area is the supply of amphoteric surfactants for personal care products, as well as non-ionic surfactants for industrial applications, while its annual revenue reaches around USD 210 million. “We are excited to become a part of a dynamic and forward-looking company with such a complimentary portfolio of technologies while extending Verdant’s global reach. The acquisition of...
© 2024 Lorelli & Co., Inc. All rights reserved.
