USA - The Sherwin-Williams Company recently announced an agreement to acquire German-based Specialized Industrial Coatings Holding (SIC Holding), a Peter Möhrle Holding and GP Capital UG venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH.

The business' portfolio of solutions includes foil coatings as well as radiation-cured and waterbased coatings for the board, furniture and flooring industry. With a presence in Europe, Asia and South America, the business 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 reportable segment. The transaction is expected to close by early 2023, pending customary regulatory approvals.

"This acquisition creates opportunities to accelerate our profitable growth in the global industrial wood market and fits our strategy of acquiring complementary, high-quality and differentiated businesses," said Sherwin-Williams Chairman and Chief Executive Officer, John G. Morikis. "The announcement further demonstrates our ongoing commitment to creating shareholder value through our consistent and balanced capital allocation strategy," added Mr. Morikis.