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Valspar Says ‘Ciao, Europa’

Monday, August 5, 2013

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U.S.-based Valspar Corp. is now a player in the European industrial coatings market, with its newly completed acquisition of an Italian company.

Valspar has sealed its deal to buy Inver Holding S.r.l. (Inver Group), a leading industrial coatings manufacturer in Europe, the company announced Thursday (Aug. 1).

Founded in 1806, Valspar Corp. is the world's sixth-largest paint and coatings company. Inver, headquartered in Italy, specializes in liquid and powder coatings as well as resin productsused in industrial applications.

Valspar Corp.
Valspar Corp.

Valspar Corp., headquartered in Minneapolis, MN, acquired European industrial coatings manufacturer Inver Group, the company announced on Thursday (Aug. 1).

Financial terms of the transaction were not disclosed.

Accelerating Growth

"We're excited to welcome the Inver team into the Valspar family and look forward to accelerating our growth in the large European industrial coatings market," said Gary Hendrickson, Valspar's chairman and CEO.

"Our customers will benefit from the combined resources of both companies, giving them access to expanded technologies, a broader product portfolio and superior service."

Giovanni Domenichini, Inver's CEO, will lead Valspar's combined industrial business in Europe.

"We believe this combination is an important step toward developing a market leading presence in Europe that also will be a platform for truly superior global growth in our industrial coatings businesses," Domenichini said when the acquisition was announced in June

"Our family has proudly owned Inver, and we are now proud to join the Valspar family."

About the Companies

Inver's primary markets are currently in Italy, the United Kingdom, France, Germany and Poland, but the company also has various licensing and distribution agreements with Sherwin-Williams, PPG Industries and other coating makers, according to its company history.

Inver also had interests in companies that were later absorbed by Rohm & Haas, AkzoNobel and International Paint. The company operates three subsidiaries and five manufacturing sites in Europe.

In 2012, the Inver Group reported sales of €160 million ($200 million USD).

Headquartered in Minneapolis, MN, Valspar is a global manufacturer of paints and coatings, including consumer, architectural, packaging, industrial, automotive and wood coatings.

   

Tagged categories: Acquisitions; AkzoNobel; Architectural coatings; Coating Business; Coatings manufacturers; International Paint; Powder coatings; PPG; Resins; Rohm and Haas; Sherwin-Williams; Valspar

Comment from Flavio Visioli, (8/6/2013, 6:10 AM)

I think the new italian acquisition by Valspar will be in the next years very very intersting. I remember the acquisitions in the years 1966/67 acquisitions of the Socony Paints from Mobil Oil in the years 1967(68 about. For me was been a very big surprise ,because Valspar this acquisition was been very expensive for Valspar it for me young director of a new factory of heavy high maintenance coatings a new aspect because one not big company went buyng a very big Company of Mobil Oil . It was for me very difficult to understand.Every years my interest was what to see the developemnt of Valspar that has been always continous with other acquisitions ,until to produce with succesfull paints for aircrafts. aircrafts.I have always hoped to work after 15 years of experiece with Sigma Coatings to work whit an american Company.We have had a big opportunity with Carboline ,but after 3 years,when arrived in Milan for to signed the contract all is falled - I have knew in Saint Louis in 81 mr Sullivan ,my tutos was Mr Tylor. When you open the offices in Belgium i Think now Valspar arrive in Europe and it is arrived.Good Luck Valspar Good Luck Domenichini family -


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