Whitford Worldwide Company (Whitford), a global manufacturer that specialises in low-friction and nonstick coatings for industrial applications and consumer products, is to be acquired by PPG Industries, Inc.
The sales is being advised by Harris Williams, a middle market investment bank, led by Patrick McNulty, John Lautemann, Ty Denoncourt and Jeff Mullen of Harris Williams’ Industrials Group. The transaction is subject to customary closing conditions.
Whitford, a privately held company headquartered in Elverson, Pennsylvania, was founded in 1969. The company specialises in coatings for industrial applications in automotive, aerospace, energy and construction markets, and provides coatings services. It also makes non-stick coatings for consumer products including cookware, bakeware and small electrical appliances. More than 700 people work for the firm across 10 manufacturing facilities located in Elverson, PA, U.S.; Fostoria, Ohio, U.S.; Guelph, Ontario, Canada; Runcorn, UK; Brescia, Italy; Sao Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India.
Founded in 1883, PPG manufactures and distributes paints, coatings and specialty materials in the United States and internationally. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries and reported net sales of $14.7 billion in 2017. The company serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.
“It has been a privilege to work with Whitford on this transaction and we look forward to watching their partnership with the PPG team drive continued success,” said John Lautemann, a director at Harris Williams. “Our firm has been active across the broader industrials and specialty chemicals sectors, and the sale of Whitford represents another marquee transaction for Harris Williams.”
Harris Williams’ Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams website.