125-year-old business, renamed The Pittsburgh Paints Company,
will be wholly focused on supplying professionals and DIYers with
industry leading products and best-in-class innovation
CRANBERRY TOWNSHIP, Pa., Dec. 2, 2024
/PRNewswire/ -- American Industrial Partners ("AIP"), today
completed its previously announced acquisition of the U.S. and
Canadian architectural coatings business (the "Company") of PPG
(NYSE:PPG). The Company has been renamed The Pittsburgh Paints
Company ("Pittsburgh Paints Co."), honoring its mission and deep
heritage delivering architectural paint and stain product
excellence and innovation to commercial and residential customers
across the United States and
Canada. The name, The Pittsburgh
Paints Company, carries a rich history dating back to 1897, when
the original company began marketing paints designed to be both
durable and visually appealing.
Pittsburgh Paints Co. is among the industry's top three
producers of interior and exterior paints, stains, caulks, repair
products, adhesives, and sealants for professionals and
do-it-yourselfers across the United
States and Canada. The
Company will also serve as the exclusive distributor for PPG's
Protective and Marine Coatings ("PMC") business in the region,
which provides cutting-edge products and services that protect
assets in some of the world's most challenging industries and
environments.
"Now a newly independent company, we call on Pittsburgh Paints
Co.'s 125-year legacy of innovation and product excellence as we
chart an aggressive course of transformation and renewal within
this extraordinary industry," said Rick
Hoffman, Partner at AIP. "Pittsburgh Paints Co.'s broad
foundation, respected brand portfolio, and experienced team are
primed for growth, and we are proud to be their partners."
"AIP is the ideal partner to support our growth objectives and
to build upon the exceptional customer service that is the
foundation of our business," said Jaime
Irick, Chief Executive Officer of Pittsburgh Paints Co. "Our
entire organization is excited about the opportunity ahead as we
build a faster, more focused, and stronger company."
About The Pittsburgh Paints Company
With 125
years of product innovation, Pittsburgh Paints Co.'s portfolio
includes some of the industry's most iconic and respected brands:
GLIDDEN®,
OLYMPIC®, PITTSBURGH PAINTS &
STAINS®, LIQUID
NAILS®, Manor
Hall®, HOMAX®,
TRUEFINISH®,
MULCO®, FLOOD®,
DULUX® (in Canada), and SICO®.
Products are available at THE HOME DEPOT®,
WALMART®, MENARDS®,
LOWES®, independent retailers, and 750+
PITTSBURGH PAINTS CO. company
stores. Pittsburgh Paints Co.'s headquarters is in Cranberry Township, Pennsylvania, located 20
minutes northeast of Pittsburgh,
Pennsylvania. Learn more at
pittsburghpaintsco.com and follow us on
LinkedIn. #NewNameSameLegacy
About American Industrial Partners
American Industrial
Partners ("AIP") is an industrials investor, with approximately
$17 billion in assets under
management. AIP is distinctively focused on industrial businesses
across end markets that include: aerospace and defense, automotive,
building products, capital goods, chemicals, industrial services,
industrial technology, logistics, metals & mining, and
transportation, among others. AIP looks to generate differentiated
returns by investing in quality industrial businesses with strong
management teams and working with those teams to implement
comprehensive Operating Agendas to build long-term value. Current
AIP portfolio companies generate aggregate annual revenues of
approximately $26 billion and employ
approximately 74,000 employees as of September 30, 2024.
www.americanindustrial.com
Media Contacts:
American Industrial Partners
pro-AIP@prosek.com
The Pittsburgh Paints Company
Jamie Altman & Katie Regan
media@kirkpat.com
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SOURCE American Industrial Partners