Paints, coatings, and materials firm PPG Industries has entered into a definitive agreement to purchase coatings manufacturer Ennis-Flint for $1.15 billion, adding a range of pavement marking products, including paint and thermoplastics, to its portfolio, the company announced in a November 30 release.
“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” Michael McGarry, chairman and chief executive officer of PPG, said in a statement. “The company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous systems.”
Ennis-Flint manufactures its products according to government guidelines and customer specifications at facilities in the US, Europe, South America, and Asia. Its portfolio includes traffic paint, hot-applied and performed thermoplastics, raised pavement markers, and intelligent transportation systems. It employs about 1,000 workers across its international footprint.
“We are excited to join the global PPG family,” said Matt Soule, president and CEO of Ennis-Flint, in the release. “Our products and technologies are excellent complements to PPG’s current product offering, and the ability to leverage PPG’s world-class innovation and broad geographical footprint will provide more growth opportunities for our products and employees in the future.”
PPG expects the transaction to close within the next several months following the completion of customary closing conditions.