PPG Industries (NYSE: PPG) has closed a deal for assets of Deft Inc., which it expects to expand its aerospace coatings business.
Deft, headquartered in Irvine Calif., is a specialty coatings company that makes structural primers and military topcoats for the North American aviation industry. The company’s coatings are also used within the architectural and general industrial markets. Terms of the deal weren’t disclosed.
Pittsburgh-based PPG has 18 coatings facilities and makes sealants and packaging for the aerospace industry. The company also provides aircraft windshields and windows. The transaction was announced in April.
The acquisition follows several others in the aerospace industry, including TransDigm Group Inc.’s (NYSE: TDG) purchase of Arkwin Industries Inc., which makes plane parts, and Heico Corp.’s (NYSE: HEI.A, HEI) acquisition of Reinhold Holdings Inc., which also makes parts for the aviation industry.