AIP Acquires PPG’s Architectural Coatings Business
American Industrial Partners (AIP), an industrials investor with approximately $16 billion in assets under management, has acquired PPG’s Architectural Coatings Business in The United States and Canada.
AIP has announced that American Industrial Partners Capital Fund VIII has entered into a definitive agreement to acquire the U.S. and Canadian architectural coatings business of PPG, a global paints, coatings, and specialty materials leader.
PPG’s architectural coatings business in the U.S. and Canada generated 2023 revenue of approximately $2 billion and is a leading producer of interior and exterior paints, stains, caulks, repair products, adhesives, and sealants for homeowners and professionals, as well as certain light-duty protective coatings products, in the United States and Canada. Its deep, well-known market presence includes some of the industry’s most iconic brands: GLIDDEN®, PITTSBURGH PAINTS & STAINS®, Manor Hall®, OLYMPIC®, LIQUID NAILS®, HOMAX®, TRUEFINISH®, MULCO®, FLOOD®, DULUX® (in Canada), and SICO®, among others. The company, through its stores network and dealer relationships, will also serve as the exclusive distributor for PPG’s Protective Marine and Coating (“PMC”) business segment, including for the distribution of brands such as AMERCOAT® and AMERLOCK®.
“We’re thrilled to be acquiring a storied business with a heritage dating back 125 years and look forward to partnering with the management team and employees to deliver best-in-class customer service across product and brand innovations,” said Rick Hoffman, Partner at AIP. “As a longtime leader in residential and commercial architectural paint with some of the industry’s most iconic brands, the company is well-positioned to benefit from growth in both the Pro and DIY consumer categories.”
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