AIP Acquires PPG's Architectural Coatings Business
American Industrial Partners (AIP), an industrial investment firm managing approximately USD 16 billion in assets, has acquired PPG's Architectural Coatings business in the United States and Canada.
AIP announced that it has signed a definitive agreement through American Industrial Partners Capital Fund VIII to acquire PPG's architectural coatings business in the United States and Canada. PPG is a global paints, coatings and specialty materials company.
PPG's architectural coatings business in the United States and Canada, which generated approximately USD 2 billion in revenue in 2023, is among the leading manufacturers of interior and exterior paints, stains, caulks, patch and repair products, adhesives and sealants for homeowners and professionals in these countries, as well as certain light-duty protective coatings products. The company's market presence includes some of the industry's most iconic brands such as GLIDDEN®, PITTSBURGH PAINTS & STAINS®, Manor Hall®, OLYMPIC®, LIQUID NAILS®, HOMAX®, TRUEFINISH®, MULCO®, FLOOD®, DULUX® (in Canada) and SICO®. Through its store network and dealer relationships, the company will also serve as the exclusive distributor of PPG's Protective Marine and Coatings (PMC) business segment, including distribution of brands such as AMERCOAT® and AMERLOCK®.
Rick Hoffman, AIP Partner, stated: "We are excited to acquire this well-established business with a 125-year legacy and look forward to partnering with the management team and employees to deliver best-in-class product and brand innovation and customer service. The company is well-positioned to benefit from growth in both professional and DIY consumer categories in residential and commercial architectural paints, having long been a leader with some of the industry's most iconic brands."
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