Coatings World staff01.11.21
PPG announced that it has reached a definitive agreement to acquire Wörwag, a global manufacturer of coatings for industrial and automotive applications. The transaction is expected to close in the first half of 2021, subject to customary closing conditions.
“Wörwag’s industry expertise in powder and liquid coatings for industrial and automotive applications is highly complementary to PPG’s business, and will help to further expand our product offering,” said Rebecca Liebert, PPG executive VP. “The addition of Wörwag will also enhance PPG’s waterborne, direct-to-metal, liquid and powder coatings offerings, and allow us to further expand current customer distribution in key geographies.”
Wörwag is a family-owned company headquartered in Stuttgart, Germany, founded in 1918. The company employs about 1,100 people globally and its full year 2020 revenue is expected to be approximately €220 million. The company specializes in developing sustainable liquid, powder and film coatings. Wörwag operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland.
International law firm Hogan Lovells advised PPG in this transaction. The deal team was lead by M&A partners Elizabeth Donley (Washington D.C.) and Volker Geyrhalter (Munich), and included employment partner Kerstin Neighbour (Frankfurt), employment counsel Sabrina Gäbeler (Frankfurt), and employment associate Rebecca Reinhardt (Frankfurt), environment and natural resources partner Scott Reisch (Denver), M&A counsel Andreas Thun (Munich), tax counsel Falk Loose (Munich), M&A senior associate Cornelius Naumann (Munich),real estate partner Martin Günther (Munich), real estate associate Tim Hinrichsen (Munich), and IPMT senior associate Daniel Huber (Munich).
International law firm Hogan Lovells advised PPG in this transaction. The deal team was lead by M&A partners Elizabeth Donley (Washington D.C.) and Volker Geyrhalter (Munich), and included employment partner Kerstin Neighbour (Frankfurt), employment counsel Sabrina Gäbeler (Frankfurt), and employment associate Rebecca Reinhardt (Frankfurt), environment and natural resources partner Scott Reisch (Denver), M&A counsel Andreas Thun (Munich), tax counsel Falk Loose (Munich), M&A senior associate Cornelius Naumann (Munich),real estate partner Martin Günther (Munich), real estate associate Tim Hinrichsen (Munich), and IPMT senior associate Daniel Huber (Munich).
