Paints, coatings, inks and adhesives are critical to industries ranging from automotive, aerospace and marine to construction, packaging and consumer goods. Beyond decoration, these products provide essential performance characteristics including corrosion resistance, weather protection, durability and advanced functionality.
The sector remains highly active for M&A as companies seek to consolidate, scale and gain exposure to attractive end markets. Recent significant and transformative transactions have included the proposed merger of AkzoNobel, former ICI business, and Axalta, the former DuPont Performance Coatings which was briefly held by The Carlyle Group and made public in 2014. Another recent noteworthy transaction announced was the sale of a majority stake in BASF Coatings to The Carlyle Group.
Beyond industry-wide consolidation, there are other trends reshaping the market. For instance, the rising awareness of sustainability is growing the demand for low-VOC coatings and waterborne technologies. Natrium Capital explore these trends in our thought piece titled: ‘A New Flake of Paint – The Challenge of Paint Microplastics‘.
Many sectors for Coatings have two subsets; new (Original Equipment Manufacturers (OEM) – automotive, new build, new construction etc.) and repair, renovation & maintenance; the latter is normally the largest (click to expand each section):
We at Natrium Capital consider ourselves global leaders in advising the paints, coatings and adhesives marketplace. We have led several globally significant and transformative deals over the years and have unrivalled experience in this industry, with exceptional geographic and industry segment transaction experience. The Natrium Capital team have experience of this industry, from having worked in management roles at some of the largest paints and coatings players to supporting many clients through buy-side and sell-side transactions over the years. This enables us to anticipate and solve issues, thereby ensuring that negotiations run smoothly.
Most recently, Natrium Capital acted as sole financial adviser to Adenia Partners on the sale of Cresta Paints, a leading West African automotive refinish and protective coatings company, to Uhuru Investment Partners, illustrating Natrium’s ability to execute complex cross-border transactions in specialist coatings markets.
Natrium Capital has advised on some of the industry’s most significant and transformative transactions over the past two decades. Team members have played leading roles in landmark deals including AkzoNobel’s acquisition of ICI and PPG’s acquisition of SigmaKalon, deals that have actively reshaped the global coatings market. Natrium Capital team members have also worked on other meaningful deals that consolidated the industry, for instance the sale of Dow’s powder coatings business to AkzoNobel and the sale of Rohm & Haas Automotive Coatings business (European) to Mader Group.
Read more about our specific skills in this sector.
Drawing on the local market expertise of our international partners, Natrium Capital has significant global reach.
We use cookies to improve your experience on our site. Learn more.
We use cookies to enhance your browsing experience and enable essential functions on our website. Some cookies are categorised as "Necessary" are automatically stored on your browser as they are crucial for the basic operation of the site - they can no be adjusted using these tools. Additionally, we use third-party cookies to help us analyse your usage of the website. These cookies are stored in your browser only with your prior consent. You have the option to enable or disable some or all of these cookies.
