The Sherwin-Williams Company (NYSE: SHW) has announced an agreement to acquire Specialized Industrial Coatings Holding (SIC Holding), a Peter Möhrle Holding and GP Capital UG venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH.
SIC Holding’s portfolio of solutions includes foil coatings as well as radiation-cured and waterbased coatings for the board, furniture and flooring industry. With a presence in Europe, Asia and South America, the business has approximately 220 employees and annual sales of more than €91.5 million. Oskar Nolte and Klumpp Coatings will become part of the Sherwin-Williams Performance Coatings Group reportable segment. The transaction is expected to close by early 2023, pending customary regulatory approvals.
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.