PPG has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a portfolio of pavement marking products, including paint, thermoplastics and other traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months.
“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 CEO.
“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 says it 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 for safety and performance, autonomous vehicle coatings for vehicle and infrastructure visibility, and interior coatings for surface functionality and durability.
Ennis-Flint supplies a wide range of products including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems.
“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.”
PPG will provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company’s fourth quarter earnings conference call in January 2021.