Top 10 acquisitions in the coatings industry in 2022

 In the third year of the epidemic, paint companies that can survive have generally lost weight, but the thin camel is larger than the horse, and although the total acquisition of paint giants has decreased, the number of acquisitions has increased significantly. The main targets of the coatings industry acquisitions in 2022 are small and beautiful regional leaders and segment leaders.

Acquisitions are mostly related to the world's coating giants, among which Sherwin-Williams has the largest number of acquisitions, Nippon Paint has the largest acquisition amount, and the acquisition of Chinese coating companies by foreign companies continues...

The biggest acquisition of 2022 came from Nippon

On January 21, Nippon Paint announced that its consolidated subsidiary, DuluxGroup, has completed the acquisition of Cromology, Europe's fourth-largest architectural coatings manufacturer, for 1.152 billion euros (about 8.3 billion yuan). The acquisition and payment was completed on 20 January 2022. This is Nippon's largest acquisition in 2022 and the largest acquisition completed in 2022 in the world coatings industry.

On May 31, Nippon Paint completed the acquisition of European coatings manufacturer DP JUB for 199.7 million euros (about 1.432 billion yuan).

On June 2, Nippon Paint turned five Chinese automotive coatings business companies into wholly-owned subsidiaries for a total purchase price of 6.7 billion yen (approximately 344 million yuan) to consolidate and integrate the automotive coatings business in China.

The most acquired Tu enterprises in 2022 is Sherwin-Williams

In 2022, Sherwin-Williams, the world's No. 1 paint giant, made a total of 6 acquisitions, although the 6 acquisition prices added together and did not have Nippon, but Sherwin-Williams is the paint company with the largest number of acquisitions in 2022.

On February 9, Sherwin-Williams completed the acquisition of AquaSurTech, further strengthening Sherwin-Williams' position as the leading coating solutions provider for the building products market.

On April 1, Sherwin-Williams completed the acquisition of Sika's European industrial coatings business, which has annual sales of $82 million.

On June 9, Sherwin-Williams acquired Germany's Gross & PerthunGmbH., a leading European tractor coatings company, with annual sales of $50 million, and Sherwin-Williams took it under his umbrella to inject more advantageous development momentum into its high-performance coatings group.

In July, Sherwin-Williams completed the acquisition of Dur-A-Flex Coatings. Sherwin-Williams said that the acquisition will enhance the value in the resin flooring field, and can also provide an integrated high-performance flooring solution to improve the operational efficiency of customers.

On October 11, the company announced the acquisition of ICA, a well-known Italian wood paint brand, with annual sales of 158 million euros.

On November 8, Sherwin-Williams announced the acquisition of SIC Holdings, a subsidiary consisting of Oskar Nolte GmbH and Klumpp Coatings GmbH, with annual sales of 91.5 million euros in early 2023.

AkzoNobel consolidates its long-term position in Europe, the United States and Africa

On April 22, AkzoNobel completed the acquisition of Grupo Orbis, a Colombian coatings company, which effectively strengthens AkzoNobel's long-term position in Latin America.

On June 1, AkzoNobel will acquire Kansai Coatings' paints and coatings business in Africa.

The deal includes Plascon, a brand with more than 100 years of history in South Africa, and Cronobel's Dulux, the oldest decorative lacquer brand in Africa. The acquisition intent also includes automotive and protective coatings, as well as wood and coil coatings.

On December 2, AkzoNobel announced that it has completed the acquisition of Lankwitzer Lackfabrik GmbH's wheel liquid coatings business. The acquired business will complement AkzoNobel's existing powder coating products and expand the range of innovative products offered by the company.

PPG's acquisition is only to enhance the position of powder coatings

Among the world's top four coatings giants, PPG has the lowest number of acquisitions in 2022, with only 2 acquisitions, but very purposeful, both for powder coatings, aiming to strengthen its sustainable advantage in powder coatings. PPG's goal is to generate 40% of its sales from sustainable advantage products by 2025.

On February 7, coatings giant PPG announced that it has signed an agreement to acquire the powder coatings business of Arsonsisi, an industrial coatings company based in Milan, Italy.

Following the acquisition, PPG will be able to expand its powder coatings product range in the Europe, Middle East and Africa (EMEA) region to include metal-bonded powders, one of the fastest growing markets for powder coatings, typically used in automotive, appliance and general specialty finish industrial applications.

On December 2, PPG announced that it has completed the acquisition of Huangshan Huajia Surface Technology Co., Ltd., a powder coating manufacturer in Huangshan, Anhui Province, China.

As a leading powder coating leader in China, Huangshan Huajia sold 36,559 tons in 2021 and generated sales revenue of 688 million yuan. Huajia is one of the earliest powder coating manufacturers in China, and after the acquisition of Huangshan Huajia, PPG's market share in China has become the top three.

关西坐稳世界第九

在《2022年世界十大涂料企业排行榜》中，关西涂料以32.69亿美元的综合营业额跻身世界第九大涂料企业。2022年关西涂料不断收购优质业务，提升在世界涂料企业中的竞争地位。

11月30日，关西涂料宣布，其欧洲子公司Kansai Helios Coatings GmbH签署股份购买协议，决定收购总部位于德国Düren的CWS Lackfabrik GmbH(以下简称“CWS集团”)的全部股份。CWS是一家拥有150多年历史的知名粉末涂料、液体和固体合成树脂生产商，公司在欧洲和美国经营粉末涂料业务和合成树脂业务。

CWS年营业额约为1亿欧元（约合人民币7.37亿元），粉末涂料的产量约为18000吨。

12月9日关西涂料签署对贝格集团铁路涂料业务的资产购买协议。在完成交易条件后，关西涂料将收购贝格集团在铁路涂料部门的所有业务资产。通过此次收购，关西涂料将进一步加强其在欧洲和全球铁路涂料领域的竞争地位。

为了业绩翻番战略，海虹老人狂收装饰漆

On February 10, Hempel completed the acquisition of the coatings division of Khimji Paints LLC, an Oman group company, which is Hempel's first acquisition in the decorative paint field in the Middle East and the first acquisition of Hempel in the decorative paint field in 2022.

In August, Hempel acquired Paintworld Australia, which is Hempel's second acquisition in the decorative paint field in 2022.

On September 15, Hempel announced the acquisition of Cap Couleurs Group's store network in southeastern France, Hempel's third acquisition in the decorative paint sector in 2022.

Hempel's revenue grew to €1.8 billion in 2021. In order to realize the strategy of doubling its performance by 2025, Hempel, which mainly focuses on marine marine coatings, will start to make crazy acquisitions of decorative paint businesses on a global scale in 2022 to make up for its shortcomings.

France's Océinde acquires part of PPG's Africa operations

On April 1, PPG announced that it had agreed to spin off certain operations in Senegal, Côte d'Ivoire, Cameroon, Gabon and Algeria to Océinde, an industrial group headquartered in Reunion, France. Océinde supplies specialty materials to PPG.

Olivier Bouin, current General Manager of PPG Africa French Overseas and Suriname Architectural Coatings, will join Océinde as General Manager of the African Trade Architectural Coatings Market.

"We are confident that this change in business model will benefit our customers in Africa," said Pascal Tisseyre, Vice President, Architectural Coatings for Europe, Middle East and Southern Africa, PPG. ”

Inside the acquisition and divestiture of this kind of business, the smell of strategic cooperation seems to be stronger.

India's largest coatings company continues to expand

Asia Paint is the largest coatings company in India, ranking among the world's seventh largest paint companies with a comprehensive turnover of US$3.731 billion in the "2022 World's Top 10 Coatings Enterprises List" released by Sino-foreign Coatings Network in 2022.

On October 26, Asian Paints, India's largest coatings company, has signed a definitive agreement to acquire Harind Chemicals and Pharmaceuticals Private from Aapex Power and Industries Private Limited, Dr. Swapan Ghosh and others for about Rs 127.5 billion ($1.5 million). 51% of Limited's shares, subject to the completion of the prerequisites set out in the Final Documents.

It also agreed to acquire 39% of Harind's shares from existing shareholders in a staggered manner over the next five years, subject to the satisfaction of certain conditions precedents and the achievement of financial objectives. Founded by Dr. Swapan Ghosh, Harind is a nanotechnology-focused specialty chemicals company focused on surface coatings and care. Harind has been a pioneer in the field of nanocoatings in India.

Asia Paint as the largest coatings company in India.

Kelly Moore, the largest independent coatings company in the United States, was acquired

On October 3, the Flacks Group announced the acquisition of Kelly-Moore, Inc., a leading manufacturer and retailer of premium paints and coatings in the United States. The deal ended 76 years of independent ownership by Kelly Moore.

Charles Gassenheimer, managing director of the Flacks Group, said the deal removed a significant debt burden from Kelly Moore Coatings, putting the company on a path of growth and expansion.

Founded in San Carlos, California in 1946, Kelly Moore Coatings is one of the largest independent paint companies in the United States, with annual revenues of more than 400 million US dollars (about 2.85 billion yuan).

The acquisition, combined with its existing portfolio company Pleuger Industries of Germany, puts Flacks Group's vertical industrial business on track to exceed $1 billion in revenue over the next two to three years.

The century-old store Nande paint is acquired by MIPA

In recent years, the pandemic, supply chain disruptions, high and unpredictable raw material prices, and continued bureaucracy and regulatory escalation have made it increasingly difficult for small and medium-sized coatings companies to survive. Even a century-old company like Nande Paint could not escape the fate of being acquired.

In July, the MI Group said it had acquired Süddeutsches Lackwerkzelle (Südwerkzelle), further expanding the company's customer base and product portfolio in the field of high-temperature coatings.

Headquartered in Eisenbach, Germany, MIX Group is a fast-growing, medium-sized company producing a wide range of varnishes and paints. The company has more than 8 production sites in Germany and abroad. For the MI Group, the acquisition of SÜD Paints means further expanding its customer base and product portfolio in the industrial coatings sector, ensuring the company's smooth expansion into the local market.