PPG Industries (NYSE: PPG) is buying the rest of Chemfil Canada Ltd., a maker of pretreatment products and chemicals for the automotive and industrial markets.
Chemfil, headquartered in Windsor, Canada, is a joint venture between PPG and Madinal Enterprises. The company produces products and industrial chemicals for automotive original equipment manufacturers and industrial companies in Canada. Terms of the deal were not disclosed.
For PPG, scooping up the rest of the JV expands its presence in Canada. After the deal closes, Chemfill products will be sold under the PPG name.
Pittsburg-based PPG’s brands include Flood Australia, Glidden, Liquid Nails, Manor Hall, Olympic, PPG Pittsburgh Paints, PPG Porter Paints, Sikkens and others.
The company has been on a years-long acquisition spree. In June, PPG agreed to buy coatings business IVC Industrial Coatings Inc., and before that, made a deal for Cuming Microwave Corp., another coatings operation. PPG won Mergers & Acquisitions M&A Mid-Market Strategic Buyer of the Year award for 2014 after making a handful of purchases, including the $2.3 billion purchase of Consorcio Comex SA.
Dealmakers are expecting M&A activity in coatings and sealants to remain active, in part due to continued innovation in the space. For more, see Innovations in Coatings and Sealants Spark M&A.