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Acquisitions Swallow 3 Coating Firms

Friday, February 13, 2015

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The paint and coatings industry continues to contract, with Miller Paint, Hempel and Lubrizol all newly acquiring other coating companies.

Miller Paint Co. has acquired Perfection Paints; Hempel has picked up a North American supplier for the protective and waterproofing markets; and Lubrizol has taken over a Brazilian coatings concern.

Hempel
©iStock.com / shironosov

Consolidation of the paint and coatings industry continues, with three new acquisitions accounced.

The acquisitions are the latest in the industry's continuing consolidation.

Hempel Moves West

Danish coatings supplier Hempel has announced that it will acquire Jones-Blair Company, a Dallas, TX-based business focused on two markets: oil and gas (industrial coatings) and construction, especially waterproofing through the NEOGARD brand.

The companies have signed a binding agreement, the terms of which were undisclosed.

Pierre-Yves Jullien, Hempel's Group President and CEO, said the acquisition supported the company's goal of becoming one of the world's top 10 largest coating suppliers by the end of 2015.

The transaction is expected to close in early March, and both parties have agreed not to provide further details before the deal gets regulatory approval.

JonesBlair
Jones-Blair Industrial Coatings

Jones-Blair's Industrial Coatings Division produces protective and decorative coatings for the industrial maintenance, oilfield, transportation and other sectors.

"Jones-Blair is a company that we have been following for years, and we finally got the chance to acquire it," said Jullien.

"Jones-Blair has proven to be one of the best coatings manufacturers in the region. It has a unique market position, great technical knowledge and many years of experience."

Kim Junge Andersen, Hempel's Group Executive Vice President & CFO, said the two company's product porfolios complemented each other perfectly.

Brazilian Expansion

The Lubrizol Corporation, a Wickliffe, OH-based specialty chemicals and performance coatings company, has acquired EcoQuimica Industria e Comercio Produtos Quimica Ltda., a Brazilian manufacturer and supplier of coatings technology.

EcoQuimica is now part of Lubrizol Advanced Materials, reporting to the Performance Coatings business. The transaction includes all of EcoQuimica's intellectual property, trademarks and customer lists. Financial terms were not disclosed.

EcoQuimica
EcoQuimica

Brazil's EcoQuimica is now part of Lubrizol's Performance Coatings business. Lubrizol also plans to expand EcoQuimica's São Paulo facility, enlarging its footprint in Latin America.

The acquisition will expand Lubrizol's performance coatings footprint in the Latin America market. Lubrizol recently purchased land adjacent to the EcoQuimica facility to support future expansion.

"With the combined property situated in a prime location in São Paulo, Lubrizol plans to expand with the addition of a warehousing facility as well as an applications and technical services lab," said Gilson Santos, Lubrizol VP, Latin America.

Acquiring Perfection

Miller Paint Co. Inc. has announced an agreement with Don Deno (Deno Inc.) to acquire the business operations and assets of Perfection Paint in Kennewick, WA. The acquisition brings Miller Paint's stable of stores to 51 in Oregon, Washington State and Northern Idaho.

Employee-owned Miller, headquartered in Portland, OR, will operate the new location, renamed Perfection Miller Paints as of Feb. 2. Miller, a market leader in the Pacific Northwest, was founded in 1890.

Facebook.com / Miller Paint

Miller Paint Co. has taken over Perfection Paints in Kennewick, WA.

No other major changes to the business are planned, according to Miller.

Deno said the "opportunity to combine forces with Miller Paint" offered "a great chance for Perfection Paint to become part of a successful and growing regional paint company."

   

Tagged categories: Acquisitions; Architectural coatings; Business matters; Hempel; Lubrizol; Marine Coatings; Miller Paint; Oil and Gas; Waterproofing

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