M&A Deal Summary

PPG Acquires VersaFlex

On January 5, 2021, PPG acquired chemicals company VersaFlex from DalFort Capital Partners

Acquisition Highlights
  • This is PPG’s 33rd transaction in the Chemicals sector.
  • This is PPG’s 25th transaction in the United States.
  • This is PPG’s 1st transaction in Kansas.

M&A Deal Summary

Date 2021-01-05
Target VersaFlex
Sector Chemicals
Buyer(s) PPG
Sellers(s) DalFort Capital Partners
Deal Type Add-on Acquisition

Target

VersaFlex

Kansas, Kansas, United States
VersaFlex, Inc. manufactures and supplies pure polyurea protective coatings, linings, joint fillers, and repair materials for a wide variety of industrial, commercial, and maintenance environments. VersaFlex was founded in 1994 and is based in Kansas City.

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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 42 of 44
Sector (Chemicals) 33 of 35
Type (Add-on Acquisition) 34 of 35
State (Kansas) 1 of 1
Country (United States) 25 of 25
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-18 Tikkurila Oyj

Vantaa, Finland

Tikkurila Oyj offers a broad range of decorative paints for consumers and professionals for surface protection and decoration. The product offering includes, among others, interior paints, lacquers, and effect products, exterior products for wood, masonry, and metal surfaces, as well as services related to painting. Tikkurila was founded in 1862 and is based in Vantaa, Finland.

Buy €1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-11 Worwag

Korntal-Münchingen, Germany

Worwag is a family-owned company headquartered in Stuttgart, Germany, founded in 1918. The company specializes in developing sustainable liquid, powder, and film coatings. Worwag operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland, and Poland.

Buy -

Seller(S) 1

SELLER

DalFort Capital Partners

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2016
Size Small
Type Sector Agnostic
DESCRIPTION

Dalfort Capital is a private equity firm that focuses on lower middle-market companies headquartered in Southwest US. Areas of interest include industrial manufacturing and services, specialty chemicals, building materials, energy products and services, and logistics/transportation. The Firm looks to invest in companies with revenue of $15 - $100 million and EBITDA of $3- $15 million. Types of the transaction include LBOs, recapitalizations, and corporate divestitures. Dalfort Capital was established in 2016 and is based in Dallas, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Kansas) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 Key Polymer

Lawrence , Massachusetts, United States

Key Polymer is a manufacturer of water, urethane, and epoxy-based adhesives and sealants with over 50 years of experience formulating high-performance solutions. Key Polymer was founded in 1959 and is based in Lawrence, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 SWEPCO

Fort Worth, Texas, United States

SWEPCO manufactures a line of industrial lubricants and greases. SWEPCO has supplied its powerful brands of lubricants and greases to a diverse global customer base serving a broad of array of end markets, including: construction, marine, manufacturing, transportation, mining, automotive, and agri-business. SWEPCO was founded in 1933 and is based in Fort Worth, Texas.

Buy -