PPG has reached a definitive agreement to acquire The Crown Group, a U.S.-based coatings application services business, from High Road Capital Partners and Charter Oak Capital Partners. The transaction is expected to close in the third quarter. Financial terms were not disclosed.
Crown, headquartered in Warren, Michigan, is one of the leading component and product finishers in North America. The company applies coatings to customers’ manufactured parts and assembled products at 11 U.S. sites. Most of Crown’s facilities, which also provide assembly, warehousing and sequencing services, are located at customer facilities or positioned near customer manufacturing sites. The company serves manufacturers in automotive, agriculture, construction, heavy truck and alternative energy industries.
“Crown is a leader in coatings application and this acquisition will enhance PPG’s ability to service its original equipment manufacturer (OEM) customers,” said Viktor Sekmakas, PPG executive vice president. “PPG continues to help customers simplify this portion of the product finishing process, enabling them to focus on their core competencies of product design and manufacturing. Our growing coatings application services capability allows PPG to have a more intimate understanding of our manufacturing customers’ coatings needs and offer enhanced, end-to-end solutions and services.”