Sherwin-Williams to acquire German wood coatings companies Oskar Nolte GmbH and Klumpp Coatings GmbH

Sherwin-Williams to acquire German wood coatings companies Oskar Nolte GmbH and Klumpp Coatings GmbH

CLEVELAND, November 8, 2022 /PRNewswire/ — The Sherwin-Williams Firm (NYSE: SHW) immediately introduced an settlement to accumulate German firm Specialised Industrial Coatings Holding (SIC Holding), a three way partnership of Peter Möhrle Holding and GP Capital UG consisting of Oskar Nolte GmbH and Klumpp Coatings GmbH. The corporate’s options portfolio contains aluminum coatings in addition to water-based and radiation-curing coatings for the panel, furnishings and flooring trade. With a presence in Europe, Asia and South America, the corporate has roughly 220 workers and annual gross sales of greater than 91.5 million euros, and might be a part of the reportable section of the Sherwin-Williams Efficiency Coatings group. The transaction is anticipated to shut in early 2023, pending customary regulatory approvals.

“This acquisition creates alternatives to speed up our worthwhile progress within the international industrial wooden market and aligns with our technique of buying complementary, high-quality and differentiated companies,” mentioned Sherwin- Williams, John G. Morikis. “The corporate’s expanded choices embrace distinctive and revolutionary aluminum coatings, which give us entry to a different adjoining progress market during which Sherwin-Williams has not beforehand entered. We’re delighted by by Oskar Nolté and Klumpp Coatings’ robust technical and gross sales groups, wonderful relationships with multinational and native prospects, strategically positioned manufacturing and key specification and approval positions, which we are going to leverage all through Europe and past. We look ahead to welcoming the gifted workers of those corporations to the Sherwin-Williams household upon closing of the transaction. »

“Immediately’s announcement additional demonstrates our continued dedication to creating shareholder worth by means of our constant and balanced capital allocation technique,” added Mr. Morikis. “Within the first 9 months of 2022, we now have invested roughly $191 million core investments primarily for progress initiatives, deployed roughly $630 million for acquisitions, and got here again slightly extra $1.2 billion to shareholders within the type of dividends and share buybacks. We anticipate to proceed our strategy supported by our continued robust money era. »

ABOUT THE SHERWIN-WILLIAMS COMPANY

Based in 1866, The Sherwin-Williams Firm is a world chief within the manufacture, growth, distribution and sale of paints, coatings and associated merchandise to skilled, industrial, business and retail prospects. The Firm manufactures merchandise beneath well-known manufacturers corresponding to Sherwin-Williams®Valspar®HGTV HOME® by Sherwin-Williams, Dutch Boy®Krylon®minwax®, by Thompson® Water tightness®Pooch® and way more. With its international headquarters in Cleveland, Ohio, Sherwin-Williams® branded merchandise are bought solely by means of a series of greater than 5,000 Firm-operated shops and services, whereas the Firm’s different manufacturers are bought by means of mass merchandisers. , residence facilities, impartial paint sellers, {hardware} shops, automotive retailers and industrial distributors. The Sherwin-Williams Efficiency Coatings group gives a variety of extremely engineered options for the development, industrial, packaging and transportation markets in additional than 120 international locations around the globe. Sherwin-Williams shares are listed on the New York Inventory Change (image: SHW). For extra info, go to www.sherwin.com.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press launch accommodates sure “forward-looking statements,” as outlined by United States federal securities legal guidelines. These statements will be recognized by way of forward-looking phrases corresponding to “imagine”, “anticipate”, “might”, “will”, “ought to”, “undertaking”, “might”, “plan”, ” goal, “”goal”, “potential”, “looking for”, “intends”, “aspires” or “anticipates” or their adverse kind or comparable terminology. These forward-looking statements are based mostly on expectations, forecasts, administration’s present estimates, assumptions and beliefs concerning future occasions and situations. Readers are cautioned to not place undue reliance on forward-looking statements. Ahead-looking statements are essentially topic to dangers, uncertainties and different elements, a lot of that are past the Firm’s management and which might trigger precise outcomes to vary materially from these statements and from the Firm’s historic efficiency, outcomes and expertise.These dangers, uncertainties and different elements embrace parts corresponding to: normal business and financial situations; the Firm’s capacity to efficiently combine previous and future acquisitions into its present operations, in addition to the efficiency of acquired companies; the strengths of the retail and manufacturing economies and the expansion of the coatings trade; adjustments within the Firm’s relationships with prospects and suppliers; adjustments within the availability and costs of uncooked supplies; opposed climate situations or pure disasters, together with as a result of impacts of local weather change; public well being crises, together with the length, severity and extent of the COVID-19 pandemic and the actions applied by worldwide, federal, state and native public well being and governmental authorities to include and fight the COVID-19, which can exacerbate a number of of the foregoing and/or different dangers, uncertainties and elements extra totally described within the Firm’s filings with the Securities and Change Fee (SEC); and different dangers, uncertainties and elements described on occasion within the Firm’s stories filed with the SEC. As a result of it isn’t potential to foretell or establish all the dangers, uncertainties and different elements that might have an effect on future outcomes, the above record shouldn’t be thought of an entire record. Any forward-looking assertion speaks solely as of the date such assertion is made, and the Firm undertakes no obligation to replace or revise any forward-looking assertion, whether or not because of new info, future occasions or in any other case.

Investor Relations Contacts:

Jim Jay
Senior Vice President, Investor Relations and Company Communications
Sherwin-Williams
Direct: 216.515.8682
[email protected]

Eric Swanson
Vice President, Investor Relations
Sherwin-Williams
Direct line: 216.566.2766
[email protected]

Media Contact:

Julie Younger
Vice President, World Company Communications
Sherwin-Williams
Direct: 216.515.8849
[email protected]

SOURCE The Sherwin-Williams Firm

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