Sherwin-Williams has signed an agreement to acquire German industrial coatings company Gross & Perthun.
The Sherwin-Williams Company has announced that it will acquire Gross & Perthun GmbH, a Germany based developer, manufacturer, and distributor of coatings primarily for the heavy equipment and transportation industries. The transaction is expected to close by the end of the third quarter of 2022.
Gross & Perthun, which has approximately 100 employees and annual sales of $50 million, will now become part of the Sherwin-Williams Performance Coatings Group reportable segment.
"This high-quality business brings us innovative waterborne and solvent liquid coatings technology, leading specification and approval positions, strong relationships with multi-national and local customers, strategically located manufacturing, and an outstanding commercial and technical team focused on delivering innovative and value-added solutions," said Sherwin-Williams Chairman and Chief Executive Officer, John G. Morikis. "The combination of our businesses provides multiple opportunities to accelerate profitable growth throughout Europe and beyond. We look forward to welcoming the talented employees of this excellent business to the Sherwin-Williams family upon the close of the transaction."