M&A Deal Summary

Sherwin-Williams Acquires The Thompson Minwax

On November 23, 1996, Sherwin-Williams acquired chemicals company The Thompson Minwax from Forstmann Little for 830M USD

Acquisition Highlights
  • This is Sherwin-Williams’ 2nd transaction in the Chemicals sector.
  • This is Sherwin-Williams’ 2nd largest (disclosed) transaction.
  • This is Sherwin-Williams’ 2nd transaction in the United States.
  • This is Sherwin-Williams’ 1st transaction in New Jersey.

M&A Deal Summary
Date 1996-11-23
Target The Thompson Minwax
Sector Chemicals
Buyer(s) Sherwin-Williams
Sellers(s) Forstmann Little
Deal Type Divestiture
Deal Value 830M USD

Target

The Thompson Minwax

Upper Saddle River, New Jersey, United States
Minwax finish on display at an Ace Hardware store in Duluth, Minnesota.
Minwax finish on display at an Ace Hardware store in Duluth, Minnesota.
The Thompson Minwax Co. is a manufacturer of sealants, surface protectants and stains including the Thompson, Minwax, Ronseal and Red Devil brands.

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Buyer(S) 1

Buyer

Sherwin-Williams

Cleveland, Ohio, United States

website

Category Company
Founded 1866
Sector Chemicals
Employees61,031
Revenue 22.1B USD (2022)
DESCRIPTION
Sherwin Williams retail store in Westchester, Illinois.
Sherwin Williams retail store in Westchester, Illinois.

Sherwin-Williams is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe and Asia. Sherwin-Williams was founded in 1866 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 2 of 16
Sector (Chemicals) 2 of 14
Type (Divestiture) 1 of 4
State (New Jersey) 1 of 1
Country (United States) 2 of 8
Year (1996) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1980-01-01 Dutch Boy Paint

Cleveland, Ohio, United States

Dutch Boy Paint is a paint manufacturing company and brand based in Cleveland, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Duron Paints & Wallcoverings

Beltsville, Maryland, United States

Duron Paints & Wallcoverings, the Pro's Choice® since 1949, with corporate headquarters and primary manufacturing plant in Beltsville, Maryland, offers a complete line of coatings formulated for the professional painter and offers a complete line of paints, stains, varnishes and high-performance coatings for commercial, institutional, and residential applications

Buy $253M

Seller(S) 1

SELLER

Forstmann Little

New York, New York, United States

Category Private Equity Firm
Founded 1978
Size Small
Type Sector Agnostic
DESCRIPTION

Forstmann Little & Co. is a private investment firm focused on investments in aerospace, consumer products/services, communications, technology, education, and healthcare companies. The Firm will consider investments in both public and private companies. Forstmann Little was most active in the 80s and 90s. Despite it's size and history, the Firm does not maintain a website. Forstmann Little was formed in 1978 and is based in New York City.

DEAL STATS #
Overall 6 of 10
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 6 of 10
Year (1996) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-10-17 Gulfstream Aerospace

Savannah, Georgia, United States

Gulfstream Aerospace designs, develops, and manufactures business-jet aircraft. Gulfstream was formed in 1958 and is based in Savannah, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Yankee Candle

South Deerfield, Massachusetts, United States

Yankee Candle, is a manufacturer, wholesaler and retailer of premium scented candles.

Buy $177M
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