PPG to Acquire Coatings Manufacturer VersaFlex

ā€œThis acquisition supports PPGā€™s commitment to growing our industry-leading technology portfolio and customer touchpoints.ā€ said Ram Vadlamannati, PPG senior vice president

PPG has reached a definitive agreement to acquire VersaFlex, a manufacturer specialising in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure, and industrial applications. VersaFlex is a portfolio company of DalFort Capital Partners. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Financial terms were not disclosed.

ā€œVersaFlexā€™s attractive segment mix with strong growth outlook, unique product offering, broad expertise, and manufacturing capabilities in polyurea and flooring coatings will complement and expand upon PPGā€™s current product offering,ā€ said Ram Vadlamannati, PPG senior vice president, protective and marine coatings (PMC) and president, Europe, Middle East and Africa. ā€œThis acquisition supports PPGā€™s commitment to growing our industry-leading technology portfolio and customer touchpoints.ā€

VersaFlex is an aggregation of four U.S.-based protective coatings companies, consisting of legacy VersaFlex, Raven Lining Systems, Milamar Coatings and Specialty Products, Inc., which were acquired by DalFort Capital from 2017-2019. VersaFlex has approximately 130 employees and its full year 2020 revenue is expected to be approximately $70 million. The company operates three manufacturing sites located in Kansas, Oklahoma and Washington.

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