PPG Industries (NYSE: PPG) is planning to continue its buying spree with Revocoat, a maker of high-performance polymers for the automotive industry.
The Pittsburgh-based buyer, on the heels of an acquisitive year, has entered into exclusive negotiations with the Axson Group, which currently owns Revocoat. PPG expects the transaction to close in the first quarter of 2015. Terms of the deal remain disclosed.
Revocoat has been a unit of Axson, a Cergy-Pontoise, France-based coatings group, since 2011. Axson specializes in waterproofing, soundproofing and corrosion protection. The company recently acquired Merylithe SAS in August, adding innovative polyurethane technologies to the company's portfolio. Terms of the deal were not released.
PPG already has a string of acquisitions this year in its own right. In June, the company agreed to buy Mexican paint company Consorcio Comex SA for about $2.3 billion. Also in June, the company picked up architectural paint group Masterwork, and ceiling repair product company Homax Group Inc.