Paint manufacturer PPG has announced it will acquire Ennis-Flint, a global manufacturer of coatings, which has a background in pavement marking products. The deal was valued at approximately $1.2 billion and is expected to close within months, PPG says.
“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” says Michael McGarry, PPG chairman and chief executive officer. “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 driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.”
PPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles. Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability, the company says.
Ennis-Flint, a privately held company headquartered in Greensboro, North Carolina, is a global leader in pavement markings and traffic safety solutions with the industry’s most comprehensive and innovative product offering. Products are developed according to strict government guidelines and customer specifications, many of which are proprietary to the company.
The company employs approximately 1,000 people globally and its full year of 2020 revenue is expected to be approximately $600 million.
“We are excited to join the global PPG family,” says Matt Soule, president and CEO of Ennis-Flint. “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.”