PPG to acquire specialty materials manufacturer Dexmet Corporation
PPG to acquire Dexmet Corporation, a manufacturer of specialty materials for surfaces in aerospace, automotive and industrial applications.
PPG announced that it has reached a definitive agreement with private equity firm Sverica Capital Management LP to acquire Dexmet Corporation. The company is a leader in several critical application areas, including aircraft lightning strike protection. The transaction is expected to close in the third quarter 2019, subject to customary closing conditions. Financial terms were not disclosed.
“The acquisition of Dexmet will enable PPG to provide further value to our customers by enhancing our range of product offerings, expanding our research and development capabilities, and increasing our market reach across PPG’s aerospace, automotive and industrial coatings businesses,” said Michael McGarry, PPG chairman and chief executive officer.
About Dexmet
Dexmet, headquartered in Wallingford, Connecticut, was founded in 1948. The company specializes in customised, highly-engineered, expanded and perforated metal foils and polymers used for mission-critical applications in aerospace, energy storage, and other industrial applications. Dexmet employs approximately 75 people.
