PPG (NYSE:PPG) is acquiring Ennis-Flint, a producer of pavements markings and traffic paint, from Olympus Partners for $1.15 billion.
“The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” says PPG CEO Michael McGarry. In 2017, PPG formed a division that focuses on investing and developing products for traffic safety, including electric vehicles.
Harris Williams and Kirkland & Ellis LLP are advising Olympus. Hogan Lovells is advising PPG.