PPG to Acquire Dexmet Corporation
PPG has announced that it has reached a definitive agreement with private equity firm Sverica Capital Management LP to acquire Dexmet Corporation, a manufacturer of specialty materials for surfaces in aerospace, automotive, and industrial applications. The transaction is expected to close in the third quarter 2019, subject to customary closing conditions. Financial terms were not disclosed.
“The acquisition of Dexmet will enable PPG to provide further value to our customers by enhancing our range of product offerings, expanding our research and development capabilities, and increasing our market reach across PPG’s aerospace, automotive and industrial coatings businesses,” said Michael McGarry, PPG chairman and chief executive officer.
“Dexmet’s leadership in aerospace surface technologies will provide strategic additions to the broad portfolio of aerospace coatings we deliver today, and PPG’s research and development team will leverage Dexmet’s expertise in ultra-thin metal mesh foil and polymer mesh across the markets we serve,” said Daniel Korte, PPG global vice president, aerospace. “In addition, Dexmet’s customer-focused business model is highly complementary to PPG’s business, allowing for a seamless integration process.”