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Sherwin-Williams To Acquire German Industrial Coatings Company, Gross & Perthun Gmbh

PRIVATEJun 09, 2022

Acquiring Company

The Sherwin-Williams Company

Acquired Company

Gross & Perthun GmbH

Germany

Description

The Sherwin-Williams Company (NYSE: SHW) today announced an agreement to acquire Gross & Perthun GmbH, a Mannheim, Germany based developer, manufacturer, and distributor of coatings primarily for the heavy equipment and transportation industries. The acquired business has approximately 100 employees and annual sales of approximately $50 million, and will become part of the Sherwin-Williams Performance Coatings Group reportable segment. The transaction is expected to close by the end of the third quarter of 2022.

Company Information

Company

The Sherwin-Williams Company

About

"This transaction fits our strategy of acquiring complementary, high-quality, differentiated businesses that add to our profitable growth momentum," said Sherwin-Williams Chairman, President and Chief Executive Officer, John G. Morikis. "The business brings us scale, unique technology, a strong sales and marketing team, technical service capabilities, strategically located manufacturing, and leading specification and approval positions, all of which we can leverage further throughout Europe and other regions across the world. Additionally, synergy opportunities give us great confidence in accelerating the already strong financial performance of the business. We look forward to officially welcoming Sika's industrial coating employees to Sherwin-Williams upon the close of the transaction at the beginning of next year." ABOUT THE SHERWIN-WILLIAMS COMPANY 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. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. 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. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.

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Frequently asked

Who acquired Gross & Perthun GmbH?

Gross & Perthun GmbH was acquired by The Sherwin-Williams Company. The deal was reported on June 9, 2022. The Sherwin-Williams Company is privately held.

When did The Sherwin-Williams Company acquire Gross & Perthun GmbH?

The Sherwin-Williams Company's acquisition of Gross & Perthun GmbH was reported on June 9, 2022. The Sherwin-Williams Company (NYSE: SHW) today announced an agreement to acquire Gross & Perthun GmbH, a Mannheim, Germany based developer, manufacturer, and distributor of coatings primarily for the heavy equipment and transportation industries. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Gross & Perthun GmbH do?

In unserer Lackfabrik entstehen robuste Oberflächen mit spezifischen Eigenschaften. Industrielackierungen sind in verschiedenen Varianten möglich. It is privately held, and is based in Germany.

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