Kansai Acquires European Coatings Firm
Paints and coatings company Kansai (Osaka, Japan) recently announced that it completed its acquisition of Helios Group, a coatings company headquartered in Kolicevo, Slovenia.
Kansai, which uses ALESCO as its corporate brand, said the acquisition of Helios on March 31 will broaden its growth in the European coating industry. While Kansai has a strong presence in Asia, Africa and the Middle East, its footprint was limited in Europe. Helios built its brand by operating in Central, Eastern and Western Europe, and in Commonwealth of Independent States members such as Russia, Belarus and Armenia.
Kansai also has manufacturing sites in Troy, Michigan; in St. Louis (U.S. Paints); and factories in two cities in Mexico (Queretaro and Aguascalientes).
"Helios already has the sales network in European markets, with its numerous trusted brand names,” said David Kubala, one of two Helios Group CEOs. “We hold a strong position in industrial, car refinish and decorative coating segments. Our portfolio is similar and in some cases complementary to Kansai Paint’s. We expect many synergies in research and development, in production systems and technologies, support systems, marketing, procurement and other areas.”
History Of The Deal
Kansai signed the Share Purchase Agreement to acquire all shares of Helios on Dec. 6, and awaited antitrust clearance in several countries and the satisfaction of other closing conditions before the deal was completed.
According to its website, Kansai Paint is one of the world’s top-10 manufacturers of automotive, architectural and industrial paints and coatings. The company, which employs more than 12,000 people worldwide, posted revenue of slightly more than $3 billion in 2016.
Helios reported revenue of 400 million euros (about $424 million) last year.