PPG Industries (NYSE: PPG) is making another acquisition and picking up IVC Industrial Coatings Inc. for an undisclosed amount.
IVC, headquartered in Brazil, Indiana, develops, manufactures and sells powder and liquid coatings for the industrial industry. The products are used on things such as metal office furniture, material handling and storage products, automotive parts, motorcycles, industrial containers, small appliances, electronics and audio-visual equipment. In addition to locations in the U.S., IVC has a manufacturing plant in China and a lab in England.
For serial acquirer PPG, the deal allows it to strengthen its supply position in China, the company says. PPG won Mergers & Acquisitions Strategic Buyer of the Year award for 2014, when it made a handful of middle-market acquisitions in addition to the $2.3 billion purchase of Mexican paint company Comex. In 2015, PPG has kept the deals coming, scooping up Cuming Microwave Corp. and Consorcio Latinoamericano in early June, and Flood Australia in March.
For more on M&A in the coatings space, see Innovations in Coatings and Sealants Spark M&A.