PPG to Acquire Coatings Manufacturer VersaFlex
PPG has reached a definitive agreement to acquire VersaFlex, a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure, and industrial applications.
VersaFlex is a portfolio company of DalFort Capital Partners. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Financial terms were not disclosed.
“VersaFlex’s attractive segment mix with strong growth outlook, unique product offering, broad expertise, and manufacturing capabilities in polyurea and flooring coatings will complement and expand upon PPG’s current product offering,” said Ram Vadlamannati, PPG senior vice president, protective and marine coatings and president, Europe, Middle East and Africa. “This acquisition supports PPG’s commitment to growing our industry-leading technology portfolio and customer touchpoints.”
VersaFlex is an aggregation of four U.S.-based protective coatings companies, consisting of legacy VersaFlex, Raven Lining Systems, Milamar Coatings and Specialty Products, Inc., which were acquired by DalFort Capital from 2017-2019. VersaFlex has approximately 130 employees and its full year 2020 revenue is expected to be approximately $70 million. The company operates three manufacturing sites located in Kansas, Oklahoma and Washington.
Related News
From Archive
- Inside Sempra’s 72-mile pipeline with 18 major trenchless crossings
- Trump vetoes bill to finish $1.3 billion Colorado water pipeline
- PHMSA warns of heat risks in aging plastic gas distribution pipelines following deadly Pennsylvania explosion
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- OSHA seeks $1.2 million fine after fatal trench collapse in Connecticut
- Worm-like robot burrows underground to cut power line installation costs
- First tunnel boring machines complete testing for Hudson Tunnel Project
- Infrastructure failure releases 100,000 gallons of wastewater in Houston; repairs ongoing
- Construction jobs stumble into 2026 after weak year
- NWPX grows water infrastructure portfolio with Colorado precast facility
Comments