American Industrial Partners completed the acquisition of the US and Canadian architectural coatings business of PPG for $550m.

American Industrial Partners, a private equity firm, completed the acquisition of the US and Canadian architectural coatings business of PPG, a supplier of paints, coatings, and specialty materials, for $550m. "We're thrilled to be acquiring a storied business with a heritage dating back 125 years and look forward to partnering with the management team and employees to deliver best-in-class customer service across product and brand innovations. As a longtime leader in residential and commercial architectural paint with some of the industry's most iconic brands, the Company is well-positioned to benefit from growth in both the Pro and DIY consumer categories," Rick Hoffman, AIP Partner.