Durability + Design
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

D+D News

Main News Page


Valspar to Buy European Coating Maker

Thursday, June 6, 2013

More items for Coatings Technology

Comment | More

The Valspar Corp. is plunging into Europe’s high-performance coatings market with the acquisition of Italy’s Inver Holding S.r.l., an international group and market leader in industrial coatings.

Founded in 1934 and family owned for three generations, the Inver Group produces more than 300 primers, enamels, single- and two-component, air- or oven-dried, spray and immersion liquid coatings, as well as a wide variety of powder coatings, resins and additives.

Minneapolis-based Valspar, founded in 1806, is the world's sixth-largest paint and coatings company.

Valspar Industrial
Valspar Corp.

Valspar chairman and CEO Gary Hendrickson says the Inver Group acquisition is “consistent with the growth strategy for our industrial coatings business."

Its vast industrial portfolio currently includes coil and extrusion coatings for high-performance applications—a portfolio that will deepen and broaden with the new acquisition, the company said.

Diverse Markets, Wide Footprint

Inver operates three subsidiaries and five manufacturing sites in Europe and employs about 600 people worldwide.

Headquartered in Bologna, Inver's operations reach from Liverpool, England; to St. Petersburg, Russia; to Athens, Greece. Inver paints and coatings are used in the building equipment, container, protective, transportation, industrial equipment, energy, agricultural, HVAC and other markets.

Its primary markets are in Italy, the United Kingdom, France, Germany and Poland, but the company has had a global reach for decades, through various licensing and distribution agreements with Sherwin-Williams, PPG Industries and other coating makers, according to its company history.

Inver also had interests in companies that were later absorbed by Rohm & Haas, AkzoNobel and International Paint.

In 2008, Inver took over the powder coating manufacturing company Becker, which had plants in France, United Kingdom, Poland and Italy.

In 2012, the Inver Group reported sales of €160 million ($200 million USD).

Growth Strategy

The acquisition will connect Valspar with Europe's $6 billion industrial coatings market and feed expansion of the company's industrial portfolio, said Gary Hendrickson, chairman and chief executive officer.

Valspar Coil/Extrusion
Valspar Corp.

Valspar Corp.'s industrial coatings portfolio includes coil and extrusion products for high-performance architectural applications. Inver will give Valspar a foothold in Europe.

Valspar's industrial business currently comprises coil and extrusion coatings for high-performance architectural applications as well as general industrial coatings for a variety of market sectors.

“Consistent with the growth strategy for our industrial coatings business, the acquisition of Inver Group significantly strengthens our position in the large and attractive European coatings market and provides operational synergies with our existing operations,” Hendrickson said in an announcement.

“Inver’s strong product portfolio and customer focus have successfully delivered results through numerous business cycles. With Inver, we gain a proven leadership team that is a strong fit with Valspar’s culture. Our customers will benefit from the expanded technologies and service we will provide together.”

Closing, Terms

The transaction is expected to close in the fiscal fourth quarter, subject to regulatory approval and customary closing conditions. Financial terms were not disclosed.

Inver Group coatings
Inver Group

Inver's portfolio includes protective and marine coatings for offshore platforms, pipelines, petrochemical tanks, and other industrial applications.

Inver Group CEO Giovanni Domenichini said his family's company was "delighted to join forces with Valspar, adding Inver’s strong customer focus, leading technology and track record of success in the European industrial coatings market to Valspar's global footprint and commitment to excellence."

Domenichini added, "We believe this combination is an important step toward developing a market leading presence in Europe that also will be a platform for truly superior global growth in our industrial coatings businesses. Our family has proudly owned Inver, and we are now proud to join the Valspar family."

   

Tagged categories: Acquisitions; AkzoNobel; Architectural coatings; Coating Business; Coatings manufacturers; Extrusions; International Paint; Marine Coatings; Market share; PPG; Rohm and Haas; Sherwin-Williams; Valspar

Comment Join the Conversation:

Sign in to our community to add your comments.

Advertisements
 
Keim Mineral Coatings
 
Mineral Silicate Paints + Stains Fuse to Concrete
 
• Forms permanent chemical bonds
• Becomes part of the concrete
• Will never peel
• Looks completely natural
 

 
Novatek Corporation
 
Novatek Portable Air Filtration Systems
 
Air Scrubbers/Negative Air machines for restoration, abatement, dust & odor control, hazardous contaminant removal from job sites to clean rooms and hospitals. Portable, affordable!
 

 
Shield Industries, Inc
 
FireGuard® E-84 Intumescent Coating - Shield Industries, Inc
 
Trust the certified protection of the industry’s most innovative intumescent coating FireGuard® E-84 to provide you with the 1 and 2 hour fire ratings you need.
 

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

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 2012-2018, Technology Publishing Co., All rights reserved