Sherwin-Williams, the well-known paint brand, recently announced an agreement to acquire Germany’s Specialised Industrial Coatings Holding (SIC Holding), a joint venture of Peter Möhrle Holding and GP Capital UG consisting of Oskar Nolte GmbH and Klumpp Coatings GmbH. The transaction is expected to close in early 2023, pending the usual regulatory approvals.
“This acquisition creates an opportunity to accelerate our profitable growth in the global industrial wood market and is part of our strategy to acquire complementary, high quality and differentiated businesses,” said Sherwin-Williams President and CEO John G. Morikis. “The announcement further demonstrates our ongoing commitment to creating shareholder value through a consistent and balanced capital allocation strategy.”
The company’s portfolio of solutions includes film coatings and radiation and water-based coatings for the board, furniture and flooring industries. SIC Holding has approximately 220 employees and annual sales of more than EUR 91.5 million and will become part of the Sherwin-Williams Performance Coatings Group’s balance sheet segment.
