PPG Completes Purchase of Specialty Materials Firm

Paints, coatings, and specialty materials firm PPG Industries has wrapped up its purchase of Dexmet Corporation, a producer of specialty materials for aerospace, automotive, and industrial uses, a PPG release announced on August 14. 

Based in Wallingford, CT, Dexmet produces perforated metal foils and polymers. The company currently has 75 workers on staff. 

A definitive agreement was signed to acquire Dexmet from its owner,private equity firm Sverica Capital Management LP,this July, Powder & Bulk Solids reported.

“The acquisition of Dexmet will enable PPG to provide further value to our customers by enhancing our range of product offerings, expanding our research and development capabilities, and increasing our market reach across PPG’s aerospace, automotive, and industrial coatings businesses,” Michael McGarry, the chairman and chief executive officer of PPG, said in an announcement of the agreement. 

PPG did not reveal the price of the transaction.

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