PPG to Purchase Specialty Materials Manufacturer Dexmet

Paints, coatings, and materials company PPG entered into a definitive agreement to purchase specialty materials manufacturer Dexmet Corporation from private equity firm Sverica Capital Management LP, a PPG release announced Monday. 

“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 a statement. 

Wallingford, CT-based Dexmet produces customized expanded and perforated metal foils and polymers used in a variety of applications, including energy storage, aerospace, and industrial. The company was established in 1948 and currently employs 75 people. 

“Dexmet’s leadership in aerospace surface technologies will provide strategic additions to the broad portfolio of aerospace coatings we deliver today, and PPG’s research and development team will leverage Dexmet’s expertise in ultra-thin metal mesh foil and polymer mesh across the markets we serve,” said PPG Global Vice President of Aerospace Daniel Korte, in the release. “In addition, Dexmet’s customer-focused business model is highly complementary to PPG’s business, allowing for a seamless integration process.”

The deal is slated to close in the third quarter of this year pending the completion of customary closing conditions. PPG did not reveal the financial terms of the transaction. 

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