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PPG Acquiring Coatings Manufacturer VersaFlex

The transaction is expected to close in the first quarter of 2021. Financial terms were not disclosed.

By: Coatings World staff

PPG announced that it has reached a definitive agreement to acquire VersaFlex, a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure, and industrial applications. 

 

VersaFlex is a portfolio company of DalFort Capital Partners. 

 

The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. 

 

Financial terms were not disclosed.

 

“VersaFlex’s attractive segment mix with strong growth outlook, unique product offering, broad expertise, and manufacturing capabilities in polyurea and flooring coatings will complement and expand upon PPG’s current product offering,” said Ram Vadlamannati, PPG senior VP, protective and marine coatings (PMC) and president, Europe, Middle East and Africa. 

 

VersaFlex is an aggregation of four U.S.-based protective coatings companies, consisting of legacy VersaFlex, Raven Lining Systems, Milamar Coatings and Specialty Products, Inc., which were acquired by DalFort Capital from 2017-2019. 

 

VersaFlex has approximately 130 employees and its full year 2020 revenue is expected to be approximately $70 million. 

 

The company operates three manufacturing sites located in Kansas, Oklahoma and Washington.

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