M&A Deal Summary

PPG Acquires Ennis-Flint

On November 30, 2020, PPG acquired infrastructure company Ennis-Flint from Olympus Partners

Acquisition Highlights
  • This is PPG’s 1st transaction in the Infrastructure sector.
  • This is PPG’s 24th transaction in the United States.
  • This is PPG’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2020-11-30
Target Ennis-Flint
Sector Infrastructure
Buyer(s) PPG
Sellers(s) Olympus Partners
Deal Type Add-on Acquisition

Target

Ennis-Flint

Greensboro, North Carolina, United States
Ennis-Flint, Inc. provides reliable and longest-lasting pavement marking and traffic safety solutions around the world. The company helps make roads, airports, and pedestrian areas safer for everyone by allocating considerable resources. Ennis-Flint was founded in 2012 and is based in Greensboro, North Carolina.

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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 40 of 44
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 32 of 35
State (North Carolina) 1 of 1
Country (United States) 24 of 25
Year (2020) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-05 Alpha Coating Technologies

West Chicago, Illinois, United States

Alpha Coating Technologies, LLC is a manufacturer of powder coatings for light industrial applications and heat sensitive substrates. Alpha focuses on the development, manufacture and sale of powder coatings for light industrial applications; medium density fiberboard and heat sensitive substrates; and toll manufactures powder coatings for metal and light industrial applications. Alpha employs approximately 35 people at its operations in West Chicago, Illinois.

Buy -
FOLLOWING 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

Seller(S) 1

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 42 of 50
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 20 of 23
State (North Carolina) 2 of 2
Country (United States) 39 of 47
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Footprint

Gilbert, Arizona, United States

Footprint is a material sciences company focused on sustainable, plant-based packaging solutions serving the world’s largest packaged food producers and other customers in the grocery and QSR channels. Footprint was founded in 2013 and is based in Gilbert, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-28 ONsite Mammography

Westfield, Massachusetts, United States

ONsite Mammography is a preeminent multi-site provider of 3D mammography services within the OB/GYN and primary care professions and is one of the fastest growing companies in the industry. ONsite provides a comprehensive portfolio of project management, installation, and operational services to physician practices in 11 states. ONsite Mammography was established in 2008 and is based in Westfield, Massachusetts.

Buy -
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