Sherwin-Williams to acquire Specialized Industrial Coatings.

Sherwin-Williams, a company in the paint and coating manufacturing industry, agreed to acquire Specialized Industrial Coatings, a Peter Möhrle and GP Capital venture comprised of Oskar Nolte and Klumpp Coatings. Financial terms were not disclosed. "This acquisition creates opportunities to accelerate our profitable growth in the global industrial wood market and fits our strategy of acquiring complementary, high-quality and differentiated businesses.The company's extensive offerings include unique and innovative foil coatings, which provide us with access to another adjacent growth market where Sherwin-Williams has not participated previously. We are excited by Oskar Nolte's and Klumpp Coatings' strong technical and commercial teams, excellent relationships with multi-national and local customers, strategically-located manufacturing, and key specification and approval positions, all of which we will leverage further throughout Europe and beyond. We look forward to welcoming the talented employees of these businesses to the Sherwin-Williams family upon the close of the transaction," John G. Morikis, Sherwin-Williams Chairman and CEO.