Durability + Design
 
About  |  Subscribe  |  Advertise  |  Connect 
Follow us on Twitter Like us on Facebook

 

Get your FREE e-resource: The Technology of Coatings in High-Rise Structures

D+D News

Main News Page


Sherwin-Williams Buys Comex for $2.3B

Wednesday, November 14, 2012

More items for Coatings Technology

Comment | More

The Sherwin-Williams Company has announced plans to acquire Comex Group, a 60-year-old Mexican paint company, for $2.34 billion, to expand the Cleveland firm's architectural paint business in the Americas.

Comex group store
Photos: Comex Group

Sherwin-Williams says it will buy Comex Group for $2.34 billion in an all-cash deal. The acquisition will help the Cleveland-based paint and coatings maker increase its presence in markets where it has few stores now.

Consorcio Comex, S.A. de C.V. (Comex Group), headquartered in Mexico City, manufactures and sells architectural and industrial coatings throughout Latin America, the U.S. and Canada. Sales generated about $1.4 billion in 2011.

The all-cash deal includes assumed debt and is subject to conditions and customary regulatory approvals, according to a release issued Monday (Nov. 12) by Sherwin-Williams.

‘Ideal Fit’

“Sherwin-Williams and Comex Group are an ideal fit in every respect—geographically, strategically and culturally,” said Christopher M. Connor, chairman and CEO of Sherwin-Williams.

Connor said the transaction would significantly increase Sherwin-Williams' presence in markets where it has few stores

“This agreement enables us to complement our presence throughout Latin America, in markets where our presence is very limited,” he said.

inside of a Comex store

Comex manufactures and sells architectural and industrial coating products throughout Latin America, the United States and Canada.

Further, he said, the acquisition “builds upon our strategy to grow our architectural paint business in the Americas, and it brings a high-quality, dedicated team of employees to Sherwin-Williams.”

Comex Details

Founded in 1952, Comex is a privately held business with 3,300 points of sale operated by 750 concessionaires, according to the companies. Comex operates eight manufacturing sites in Mexico, five in the U.S., and three in Canada. The company has more than 7,200 employees.

In the U.S., Comex sells paint and coatings products under a variety of brand names—including Frazee, Color Wheel, Parker and Kwal Paints—through 240 company-operated paint stores. In Canada, the company markets multiple brands of paint and coatings through 78 company-operated paint stores and about 1,500 independent paint dealers.

Comex places heavy emphasis on supplying "high-quality architectural paints and coatings," according to Sherwin-Williams. However, the company’s product portfolio also includes various industrial, protective and specialty coatings.

A Sherwin-Williams' presentation on the deal calls it “a unique growth opportunity” and indicates that roughly 75 percent of Comex sales are attributed to architectural paint products.

   

Tagged categories: Acquisitions; Architectural coatings; Business matters; Business operations; Coatings manufacturers; Comex; Sherwin-Williams

Comment Join the Conversation:

Sign in to our community to add your comments.

PPG Protective and Marine Coatings Group
Industrial strength performance in ONE can.

Now get the durability and protection of two components in one can: Amercoat® ONE, PSX® ONE and Sigmadur ONE.


Chicago Corrosion Group
Vendor-neutral corrosion consulting

When reliability is paramount.
For more information,
call 877-516-9514


KTA-Tator, Inc. - Corporate Office
KTA Analyzes
Coating Failures

• Field Diagnosis
• Lab Diagnosis
• Determination of Cause
• Recommendations
www.kta.com
800-245-6379


Dumond Chemicals Inc.
Watch Dog® Wipe Out
Porous Surface Graffiti Remover

is formulated to effectively and easily remove existing graffiti from porous/unpainted masonry surfaces 15-30 minutes without surface damage while being both safe for the applicator and friendly to the environment.


Garland Company
Quick Fix to Ponding Water on Roofs

Quick-Slope™ is a modified acrylic cementitious material developed to add slope and provide water dispersion over roof systems.


Keim Mineral Coatings
Translucent concrete stains for new and old concrete

Penetrating, translucent mineral silicate stains harmonize uneven concrete color and blend patches and repairs, without the "painted" look. Will never peel.


AGC Chemicals
Film Museum Gets a beautiful FEVE Resin Facelift

LUMIFLON based coatings can last up to 30 years without fading, offering a low-maintenance solution that retains color and gloss and can be field-applied.


Armorthane
Best Floor Coatings with Maximum Durability

Coat CONCRETE or WOOD flooring for wheel and foot traffic, chemical resistance, weather-proofing, indoors and outside. Variety of textures for beauty, resilience and safety.

 
 
 

Technology Publishing Co., 2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@durabilityanddesign.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 

© Copyright 2012-2015, Technology Publishing Co., All rights reserved