Grace Matthews, Inc. has announced PPG Industries has acquried Spraylat Corporation, a global producer of industrial powder and liquid coatings. Headquartered in Pelham, NY, Spraylat maintains manufacturing facilities in North America, Europe, and Asia and sells products to customers in more than
50 countries. The company is a leader in many of the niche markets it serves, including automotive wheel and tire coatings, electronic conductive coatings, mirror coatings and solutions, and architectural powder coatings. The acquisition strengthens PPG’s capabilities in industrial coatings and provides access to Spraylat’s strong technology and customer base.
With extensive experience in paints and coatings M&A, Grace Matthews was engaged by the shareholders of Spraylat to identify high-potential buyers and run a timely, targeted sale process. Doug Mitman and Andy Hinz led the deal team for Grace Matthews.
“Grace Matthews has known and admired Spraylat for many years, and we were fortunate to work with the owners to find a home for this excellent, third-generation, family-owned business,” said Mitman. “Unlike many privately held coatings companies, Spraylat has developed an extensive global footprint through the hard work of the owners and their employees over the past several decades. PPG recognized the cultural, strategic, and product fits between the organizations and will be a strong steward of the business going forward.”