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PPG to Acquire Ennis-Flint

Tuesday, December 8, 2020

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Global coatings company PPG (Pittsburgh) recently announced its plans to acquire global coatings manufacturer Ennis-Flint (Greensboro, North Carolina).

The company is reported to have a board portfolio consisting of pavement marking products, including paint, thermoplastics and other advanced traffic technologies which are created from a network of manufacturing facilities within the United States, Europe, South America and Asia.

Ennis-Flint employs approximately 1,000 people globally and its full year of 2020 revenue is expected to be approximately $600 million, with mid-teen percentage EBITDA margins.

© iStock.com / jfarleyphoto

Global coatings company PPG (Pittsburgh) recently announced its plans to acquire global coatings manufacturer Ennis-Flint (Greensboro, North Carolina).

“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” said Michael McGarry, PPG Chairman and Chief Executive Officer.

“The company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.”

The transaction agreement is valued at approximately $1.15 billion and is expected to close within the next few months, subject to customary closing conditions. PPG reports that it plans to provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company’s fourth quarter earnings conference call in January 2021.

“We are excited to join the global PPG family,” added Matt Soule, President and CEO of Ennis-Flint. “Our products and technologies are excellent complements to PPG’s current product offering, and the ability to leverage PPG’s world-class innovation and broad geographical footprint will provide more growth opportunities for our products and employees in the future.”

   

Tagged categories: Asia Pacific; Business management; Business matters; Business operations; EMEA (Europe, Middle East and Africa); Ennis-Flint; Latin America; North America; PPG; Program/Project Management; Z-Continents

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