The Sherwin-Williams Company has announced an agreement to acquire Gross & Perthun, a Mannheim, Germany developer, manufacturer, and distributor of coatings mainly for the heavy equipment and transportation industries.
The acquired business has approximately 100 employees and annual sales of approximately US$50 million. It will become part of the Sherwin-Williams Performance Coatings Group reportable segment, with the transaction expected to close by the end of the third quarter of 2022.
“This high-quality business brings us innovative waterborne and solvent liquid coatings technology, leading specification and approval positions, strong relationships with multi-national and local customers, strategically located manufacturing, and an outstanding commercial and technical team focused on delivering innovative and value-added solutions,” said Sherwin-Williams Chairman and Chief Executive Officer, John Morikis.
“The combination of our businesses provides multiple opportunities to accelerate profitable growth throughout Europe and beyond. We look forward to welcoming the talented employees of this excellent business to the Sherwin-Williams family upon the close of the transaction.”