The Sherwin-Williams Company (NYSE: SHW) has signed an agreement to acquire the European industrial coatings business of Sika AG (SWX: SIKA). The transaction is expected to close in the beginning of 2022.
Based in Germany with additional sales and technical support in Poland, Austria, and Switzerland, Sika’s European industrial coatings business engineers, manufactures and sells corrosion protection coating systems for high value interior and exterior steel infrastructure, bridges, airport and rail, wind and energy, chemicals, power transmission and stations, interior linings for oil and gas tanks, vessels, and pipework, and water and wastewater applications, along with fire protection coating systems to protect and preserve steel, wood and concrete building components. Sales of the business were approximately CHF 75 million ($82 million) for the year ended December 31, 2020. The acquired business will become part of the Sherwin-Williams Performance Coatings Group operating segment.
Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial, and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal®, Cabot® and many more. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.
EC M&A acted as the M&A advisor to Sherwin-Williams on this transaction.