PPG has reached a billion worth agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies.
The transaction, valued at approximately USD 1.15 billion (around EUR 950 million), is expected to close within the next few months, subject to customary closing conditions.
PPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles. Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability.
Leader in pavement markings and traffic safety solutions
Ennis-Flint, a privately held company headquartered in Greensboro, North Carolina, is a leader in pavement markings and traffic safety solutions with the industry’s most comprehensive and innovative product offering. Products are developed according to strict government guidelines and customer specifications, many of which are proprietary to the company. A high percentage of its product sales are derived from non-discretionary, essential maintenance spending. Ennis-Flint supplies a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems from a network of manufacturing facilities within the United States, Europe, South America, and Asia. The company employs approximately 1,000 people globally.
"The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” said Michael McGarry, PPG chairman and chief executive officer. "The company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.”