American Industrial Partners Completes Acquisition of PPG's U.S. and Canadian Architectural Coatings Business
125-year-old business, renamed The Pittsburgh Paints Company, will be wholly focused on supplying professionals and DIYers with industry leading products and best-in-class innovation
CRANBERRY TOWNSHIP, Pa., Dec. 2, 2024 /PRNewswire/ -- American Industrial Partners ("AIP"), today completed its previously announced acquisition of the U.S. and Canadian architectural coatings business (the "Company") of PPG (NYSE:PPG). The Company has been renamed The Pittsburgh Paints Company ("Pittsburgh Paints Co."), honoring its mission and deep heritage delivering architectural paint and stain product excellence and innovation to commercial and residential customers across the United States and Canada. The name, The Pittsburgh Paints Company, carries a rich history dating back to 1897, when the original company began marketing paints designed to be both durable and visually appealing.
Pittsburgh Paints Co. is among the industry's top three producers of interior and exterior paints, stains, caulks, repair products, adhesives, and sealants for professionals and do-it-yourselfers across the United States and Canada. The Company will also serve as the exclusive distributor for PPG's Protective and Marine Coatings ("PMC") business in the region, which provides cutting-edge products and services that protect assets in some of the world's most challenging industries and environments.
"Now a newly independent company, we call on Pittsburgh Paints Co.'s 125-year legacy of innovation and product excellence as we chart an aggressive course of transformation and renewal within this extraordinary industry," said Rick Hoffman, Partner at AIP. "Pittsburgh Paints Co.'s broad foundation, respected brand portfolio, and experienced team are primed for growth, and we are proud to be their partners."
"AIP is the ideal partner to support our growth objectives and to build upon the exceptional customer service that is the foundation of our business," said Jaime Irick, Chief Executive Officer of Pittsburgh Paints Co. "Our entire organization is excited about the opportunity ahead as we build a faster, more focused, and stronger company."
About The Pittsburgh Paints Company
With 125 years of product innovation, Pittsburgh Paints Co.'s portfolio includes some of the industry's most iconic and respected brands: GLIDDEN®, OLYMPIC®, PITTSBURGH PAINTS & STAINS®, LIQUID NAILS®, Manor Hall®, HOMAX®, TRUEFINISH®, MULCO®, FLOOD®, DULUX® (in Canada), and SICO®. Products are available at THE HOME DEPOT®, WALMART®, MENARDS®, LOWES®, independent retailers, and 750+ PITTSBURGH PAINTS CO. company stores. Pittsburgh Paints Co.'s headquarters is in Cranberry Township, Pennsylvania, located 20 minutes northeast of Pittsburgh, Pennsylvania. Learn more at pittsburghpaintsco.com and follow us on LinkedIn. #NewNameSameLegacy
About American Industrial Partners
American Industrial Partners ("AIP") is an industrials investor, with approximately $17 billion in assets under management. AIP is distinctively focused on industrial businesses across end markets that include: aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining, and transportation, among others. AIP looks to generate differentiated returns by investing in quality industrial businesses with strong management teams and working with those teams to implement comprehensive Operating Agendas to build long-term value. Current AIP portfolio companies generate aggregate annual revenues of approximately $26 billion and employ approximately 74,000 employees as of September 30, 2024. www.americanindustrial.com
Media Contacts:
American Industrial Partners
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The Pittsburgh Paints Company
Jamie Altman & Katie Regan
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SOURCE American Industrial Partners