PPG sells US and Canada architectural coatings business to AIP

PPG has finalized the sale of its architectural coatings business in the US and Canada to American Industrial Partners (AIP) for $550 million. The transaction, which includes facilities in multiple US states and Canada, is part of PPG’s strategy to optimize its portfolio. The business generated approximately $2 billion in sales in 2023, contributing a low-single-digit EBITDA margin.

“[This transaction] will result in increased capability to channel our growth resources to areas where we have the strongest right to win with our customers,” said Tim Knavish, PPG’s CEO.

PPG will continue to operate its architectural coatings businesses in other regions.

Goldman Sachs & Co. LLC served as PPG’s financial advisor, with Hogan Lovells US LLP acting as legal counsel.