PPG Expands Aerospace in Deft Deal
Looking to broaden its aerospace coatings portfolio, PPG Industries has acquired specialty coatings manufacturer Deft Inc.
Pittsburgh-based PPG announced Thursday (April 11) that it had reached a definitive agreement to "acquire cetain assets" of Deft, a privately owned company based in Irvine, CA.
Deft primarily supplies structural primers and military topcoats to the North American aviation industry. The company also has smaller architectural and industrial coatings businesses.
"Acquiring Deft will advance PPG's strategy to remain a leading aerospace coatings supplier," said Barry Gillespie, PPG vice president, aerospace.
"Deft's waterborne and chrome-free technologies complement PPG's existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry."
"Deft's 'green' coating systems support PPG's ongoing commitment to sustainability, and we will be able to offer an even wider selection of innovative coatings that benefit our customers and lessen the impact on the environment."
The financial terms were not disclosed, and the transaction is expected to close in the second quarter, PPG said.
PPG Aerospace is a global supplier of aerospace products and services with 18 coatings facilities worldwide. PPG Aerospace—PRC DeSoto produces aerospace sealants, coatings, and packaging and application systems. PPG Aerospace—Transparencies supplies aircraft windshields, windows and canopies.
Deft is a major supplier of structural primers and military topcoats to North America's aviation sector. The California company has a portfolio of chrome-free and other "green" coating systems.
Deft Incorporated employs 140 people. Founded in 1938, the company manufactures structural primers and chrome-free primers and topcoats for the aerospace and general industrial markets, as well as wood finishes for the retail market.
PPG has been in an acquisition mode lately. On April 1, PPG Architectural Coatings completed the purchase of AkzoNobel's North American decorative paints business.
The $1.05 billion acquisition included prominent brands Glidden, Flood, Liquid Nails, Sico and CIL. As part of the transaction, PPG will also license Dulux and Devoe architectural coatings and Sikkens architectural wood products.
The acquisition was the second largest in PPG history.