M&A Deal Summary

PPG Acquires Dexmet

On July 22, 2019, PPG acquired manufacturer Dexmet from Sverica and Avante Capital Partners

Acquisition Highlights
  • This is PPG’s 1st transaction in the Manufacturing sector.
  • This is PPG’s 22nd transaction in the United States.
  • This is PPG’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2019-07-22
Target Dexmet
Sector Manufacturing
Buyer(s) PPG
Sellers(s) Sverica
Avante Capital Partners
Deal Type Add-on Acquisition

Target

Dexmet

Wallingford, Connecticut, United States
Dexmet Corp. is a provider of customized, highly-engineered expanded metal foils and polymers for mission-critical applications including lightning strike protection, power storage technology and structural technology. Dexmet Corp. was founded in 1942 and is based in Wallingford, Connecticut.

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Buyer(S) 1

Buyer

PPG

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1883
Sector Chemicals
Employees50,000
Revenue 18.2B USD (2023)
DESCRIPTION
PPG headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.
PPG headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.

PPG manufactures and distributes a broad range of coatings, specialty materials and glass products. PPG was formed in 1883 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 37 of 44
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 29 of 35
State (Connecticut) 1 of 1
Country (United States) 22 of 25
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Hemmelrath Lackfabrik

Klingenberg, Germany

Hemmelrath Lackfabrik GmbH is a manufacturer of coatings for automotive original equipment manufacturers (OEMs). Hemmelrath Lackfabrik GmbH was founded in 1946 and is based in Klingenberg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-08 Industria Chimica Reggiana

Reggio Emilia, Italy

Industria Chimica Reggiana (ICR) S.p.A is a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. Industria Chimica Reggiana is based in Reggio Emilia, Italy.

Buy -

Seller(S) 2

SELLER

Sverica

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
PE ASSETS 1.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sverica Capital Management is a private equity firm that invests in stable or growing, smaller companies with valued less than $150 million. Sverica looks to commit $15 to $50 million per transaction and primarily targets buyout or divestiture situations and avoids businesses in need of restructuring. Broad areas of interest include IT, business services, healthcare, light manufacturing, and industrials. The Firm generally seeks majority control investments, but will also selectively consider minority situations. Sverica Capital Management was formed in 2001 and has offices in Boston and San Francisco.

DEAL STATS #
Overall 20 of 28
Sector (Manufacturing) 2 of 3
Type (Add-on Acquisition) 10 of 14
State (Connecticut) 1 of 3
Country (United States) 17 of 24
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-17 Stream Companies

Malvern, Pennsylvania, United States

Stream Companies is an Integrated Advertising Agency and a SaaS-based technology company for the retail and automotive industries. Stream’s transparent client service philosophy and its deep expertise and broad capabilities, covering both digital and traditional media strategies, have helped its customers to promote their brands, drive high levels of consumer traffic, and gain share in their markets. Stream Companies was founded in 1997 and is based in Malvern, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 In Vitro Sciences

Avon, Connecticut, United States

In Vitro Sciences provides a network of fertility clinics. IVS practices operate from 17 offices including 4 in-vitro fertilization (“IVF”) labs. IVS clinics perform a full range of services including more than 5,000 annual IVF cycles, genetic testing, egg and embryo storage. In Vitro Sciences is based in Avon, Connecticut.

Buy -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.

DEAL STATS #
Overall 10 of 17
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Connecticut) 1 of 1
Country (United States) 10 of 17
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-31 Power Digital

San Diego, California, United States

Power Digital is a data-driven digital marketing agency, that offers services including: SEO, Content, Paid Media, Organic and Paid Social Media, PR, Influencer, Email, Conversion Rate Optimization, Migration, Amazon Marketing and Web Development, with an emphasis in helping brands scale revenue and increase profits through customer acquisition and retention programs. Power Digital was founded in 2012 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-04 ACIS Innovative Solutions

McKinney, Texas, United States

ACIS Innovative Solutions is a provider of HVAC and plumbing maintenance services, including equipment design and replacement, vibration and oil analysis, retrofits and building automation. ACIS Innovative Solutions was founded in 2002 and is based in McKinney, Texas.

Buy -
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