M&A Deal Summary

PPG Acquires SigmaKalon Group BV

On July 19, 2007, PPG acquired chemicals company SigmaKalon Group BV from European Capital and Bain Capital Private Equity for 2.2B EUR

Acquisition Highlights
  • This is PPG’s 8th transaction in the Chemicals sector.
  • This is PPG’s largest (disclosed) transaction.
  • This is PPG’s 1st transaction in the Netherlands.

M&A Deal Summary

Date 2007-07-19
Target SigmaKalon Group BV
Sector Chemicals
Buyer(s) PPG
Sellers(s) European Capital
Bain Capital Private Equity
Deal Type Add-on Acquisition
Deal Value 2.2B EUR

Target

SigmaKalon Group BV

Uithoorn, Netherlands
website
SigmaKalon is a global producer of architectural, protective, marine and industrial coatings, and a leading coatings supplier in many parts of Europe and other key national markets across the globe, with an increasing presence in Africa and Asia. SigmaKalon sells architectural coatings directly to professional painters via a network of service centers, and it maintains a network of approximately 500 company-owned stores and approximately 3,000 independent wholesalers that give it direct access to customers.

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Buyer(S) 1

Buyer

PPG

Pittsburgh, Pennsylvania, United States

website


Category Company
Founded 1883
Sector Chemicals
Employees46,900
Revenue 17.7B USD (2022)
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. The Company is comprised of three reportable business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings and Industrial Coatings reportable segments supply coatings and specialty materials for customers in a wide array of end-use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Industrial Coatings reportable segment is comprised of the automotive OEM, industrial coatings, packaging coatings, and specialty coatings and materials businesses. PPG's Glass segment is a producer of flat glass in North America and a producer of fiber glass in North America and Europe, as well as Asia through a partnership with Nan Ya Plastics Corp to serve the electronics industries. PPG was formed in 1883 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 9 of 44
Sector (Chemicals) 8 of 35
Type (Add-on Acquisition) 6 of 35
Country (Netherlands) 1 of 2
Year (2007) 3 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-19 Barloworld Coatings Australia Pty.

Villawood, Australia

Barloworld Coatings Australia Pty. Ltd. an Australian architectural and decorative paint manufacturer, produces Taubmans, Bristol and White Knight brands of architectural coatings. The company operates two production facilities in Villawood, New South Wales, and Glen Waverley, Victoria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-16 Coatings Resource

Huntington Beach, California, United States

Coatings Resource Corp., produces paints, lacquers and varnishes for use on metal and wood industrial and consumer products, including audio-visual equipment, sporting goods and automotive interiors. It also produces injectable colorants, blowing agents, processing aids, ultraviolet (UV) stabilizers and anti-oxidants used on various types of plastics.

Buy -

Seller(S) 2

SELLER

European Capital

London, United Kingdom

website


Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.


DEAL STATS #
Overall 4 of 52
Sector (Chemicals) 1 of 5
Type (Add-on Acquisition) 3 of 16
Country (Netherlands) 1 of 4
Year (2007) 4 of 8
Size (of disclosed) 3 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 SBS Broadcasting S.A.

Luxembourg, Luxembourg

SBS Broadcasting S.A. is a European television and radio broadcasting company with complimentary print operations. The Company derives revenue primarily through sales of advertising to multi-national, national, regional and local advertisers and sales of magazine subscriptions.

Sell €3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-23 Bestinvest

London, United Kingdom

Bestinvest provides impartial investment advice, discretionary wealth management and financial planning to mass-affluent and high net worth individuals. Bestinvest is based in London, England.

Buy £166M
SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 24 of 138
Sector (Chemicals) 1 of 5
Type (Add-on Acquisition) 8 of 40
Country (Netherlands) 1 of 3
Year (2007) 2 of 2
Size (of disclosed) 13 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-10 Bamboo Health

Louisville, Kentucky, United States

Bamboo Health is a healthcare technology solutions company, focused on fostering care collaboration and providing information and actionable insights to facilitate physical and behavioral health across the entire continuum of care. Bamboo Health is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-23 Ideal Standard

Brussels, Belgium

Ideal Standard is an international manufacturer and marketer of kitchen and bath products. Ideal Standard was founded in 1901 and is based in Brussels, Belgium.

Buy $1.8B