PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


Sherwin-Williams Bags Mexico’s Comex

Thursday, November 15, 2012

More items for Coating Materials

Comment | More

The Sherwin-Williams Company has announced plans to acquire Comex Group, a 60-year-old Mexican paint company, for $2.34 billion in an all-cash transaction.

Consorcio Comex, S.A. de C.V. (Comex Group), headquartered in Mexico City, manufactures and sells industrial and architectural coatings throughout Latin America, the U.S., and Canda. Sales generated about $1.4 billion in 2011.

Photos: Comex Group

Sherwin-Williams announced plans to acquire 60-year-old Mexican paint company Comex Group.

The deal includes assumed debt and is subject to conditions and customary regulatory approvals, according to a release issued Monday (Nov. 12) by Cleveland-based Sherwin-Williams.

'Ideal Fit'

"Sherwin-Williams and Comex Group are an ideal fit in every respect—geographically, strategically and culturally," said Christopher M. Connor, chairman and CEO of Sherwin-Williams.

"This transaction will significantly increase our presence in markets where our store count is low," said Connor.

Comex manufactures and sells coatings in Mexico through 3,300 points of sale operated by 750 concessionaires. In the U.S., the company sells paint and coatings products under a variety of brand names through 240 company-operated paint stores. The company markets multiple coatings brands in Canada through 78 company-operated paint stores and approximately 1,500 independent paint dealers.

Comex's portfolio includes industrial, protective, architectural, and specialty coatings.

"We are very pleased and excited to join the Sherwin-Williams team and look forward to making a major contribution to the company's ongoing success in the Americas," said Marcos Levy, CEO of Comex. "I am confident that joining the Sherwin-Williams family will provide an outstanding future for our employees and customers."

About the Companies

Founded in 1952, Comex is a privately held business that has more than 7,200 employees and operates eight manufacturing sites in Mexico, five in the U.S., and three in Canada.

The company's product assortment includes various industrial, protective, and specialty coatings, with a heavy emphasis on high-quality architectural paints and coatings.

The Sherwin-Williams Company is a global leader in manufacturing, developing, distributing, and selling coatings and related products to professional, industrial, commercial, and retail customers.

Founded in 1866, Sherwin-Williams sells its products in more than 4,000 company-operated stores and facilities.

For more information on the acquisition, an archived webcast of Monday's call with investors will be available until Friday (Nov. 16) at 5:00 p.m. ET. An accompanying slide presentation is also available.

   

Tagged categories: Acquisitions; Comex; Mergers; Sherwin-Williams

Comment Join the Conversation:

Sign in to our community to add your comments.

Polyval Coatings
Polyflex® Polyurea Linings

exhibit outstanding versatility in use; providing abrasion resistance, superior seamless waterproofing and high-chem corrosion protection. www.polyflexlinings.com


Mitsubishi Gas Chemical America
Performance Amine 1,3-BAC

A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.


Sherwin-Williams
Nova-Plate® 325

• Extends Service Life
• Single Coat Application
• Cure to Service in 24 Hours


BASF
New resins from BASF will have metals loving water:

Excellent corrosion resistance, low VOC, high gloss, thin films basf.us/industrialcoatings
polyorders@basf.com
800-231-7868


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Wasser High-Tech Coatings Inc.
    Wasser Coatings Protect

    some of the most important bridges in the country; learn about our NEPCOAT-approved system and our entire range of MCU & Polyurea coatings. 1-800-627-2968 www.wassercoatings.com


    SAFE Systems, Inc.
    Enduroguard -
    The Tough Cable
    for a Tough Industry.

    Reduce maintenance costs and down time, increase job site safety with Enduroguard Cable. Available exclusively from SAFE Systems. UL listed, flexible, abrasion resistant and cut resistant.

  •  
     
     
    Technology Publishing

    The Technology Publishing Network

    The Journal of Protective Coatings & Linings (JPCL) PaintSquare
    Durability + Design Paint BidTracker JPCL Europe

     
    EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
    REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
    MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
     

    © Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
    2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com