The Sherwin?Williams Company has completed its divestiture of the assets related to Valspar’s North American Industrial Wood Coatings business to Axalta Coatings Systems for $420 million in cash.
Valspar’s North American Industrial Wood Coatings business had revenues of approximately $225 million in 2016 and is one of the leading providers of coatings for OEM and aftermarket Industrial Wood segments, including building products, cabinets, flooring and furniture in North America.
Sherwin-Williams divested the business as a result of the regulatory reviews by the United States Federal Trade Commission and Canadian Competition Bureau of the acquisition of Valspar by Sherwin-Williams.
The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers.
The company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal®, Cabot® and many more.
Jones Day has advised The Sherwin-Williams Company on the deal with a team led by partner James Dougherty.
Involved fees earner: James Dougherty – Jones Day;
Law Firms: Jones Day;