April 11, 2013
PPG to acquire aerospace coatings producer Deft
PPG Industries has reached a definitive agreement to acquire certain assets of Deft Incorporated, a privately-owned specialty coatings company based in Irvine, Calif. Deft’s primary business is supplying structural primers and military topcoats to the North American aviation industry, and it has smaller architectural and industrial coatings businesses. “Acquiring Deft will advance PPG’s strategy to remain a leading aerospace coatings supplier,” said Barry Gillespie, PPG vice president, aerospace. “Deft’s waterborne and chrome-free technologies complement PPG’s existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry.” The transaction is expected to close in the second quarter subject to customary closing conditions. Financial terms were not disclosed.