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PPG Finishes Acquisition of Specialty Materials Firm

Tuesday, August 20, 2019

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Coatings manufacturer PPG (Pittsburgh) announced late last week that it has completed the acquisition of specialty chemicals firm Dexmet (Wallingford, Connecticut), which focuses on products for aerospace, automotive and industrial applications.

“The Dexmet team is excited to become part of the PPG family," said Timothy Poor, Dexmet Chief Executive Officer, at the time of the original acquisition announcement.

© iStock.com / jfarleyphoto

Coatings manufacturer PPG (Pittsburgh) announced late last week that it has completed the acquisition of specialty chemicals firm Dexmet (Wallingford, Connecticut), which focuses on products for aerospace, automotive and industrial applications.

"PPG's technological leadership and commitment to innovation aligns well with Dexmet and will enable us to significantly broaden the solution set we bring to our customers."

Specialty Firm Acquisition

The deal was struck with private equity firm Sverica Capital Management LP (Boston). Dexmet is known as a leader in areas such as aircraft lightning strike protection.

According to PPG, Dexmet, which specializes in expanded and perforated metal foils and polymers often used for critical applications, was founded in 1948. Dexmet employs 75 people, and, according to the company, is AS9100:D and ISO 9001:2015 certified.

Financial terms were not disclosed.

“The acquisition of Dexmet will enable PPG to provide further value to our customers by enhancing our range of product offerings, expanding our research and development capabilities, and increasing our market reach across PPG’s aerospace, automotive and industrial coatings businesses,” said Michael McGarry, PPG chairman and Chief Executive Officer, during the original acquisition announcement.

   

Tagged categories: Acquisitions; Aerospace; Business matters; Business operations; NA; North America; PPG; Program/Project Management

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