United States. PPG announced that it has entered into a definitive agreement to acquire The Crown Group, a U.S.-based coating application services business, from High Road Capital Partners and Charter Oak Capital Partners. The transaction is expected to close in the third quarter of 2017, subject to customary closing conditions. Financial terms were not disclosed.
Crown, headquartered in Warren, Michigan, is one of the leading manufacturers of components and products in North America. The company applies coatings to manufactured and assembled parts from customers at 11 U.S. sites. Most of Crown's facilities, which also provide assembly, storage and sequencing services, are located in customer facilities or located near the customer's manufacturing locations. The company serves manufacturers in the automotive, agriculture, construction, heavy truck and alternative energy industries.
"This acquisition will enhance PPG's ability to serve its original equipment manufacturer (OEM) customers," said Viktor Sekmakas, executive vice president of PPG. "PPG continues to help customers simplify this part of the product finishing process, allowing them to focus on their core product design and manufacturing competencies. Our growing capacity for coating application services allows us to have a more intimate understanding of our manufacturing customers' coating needs and offer enhanced end-to-end solutions and services."
