The Sherwin-Williams Company announced it has closed a definitive agreement to acquire the Industrial Wood Coatings business of Arch Chemicals Inc.
Headquartered in Pianoro, Italy, Arch Industrial Wood Coatings trades under the Sayerlack brand name and is a leading coatings innovator in the Joinery, Furniture and Cabinets markets. Net sales in 2009 were $147 million.
Founded in 1954, Sayerlack is one of the largest manufacturers of industrial wood coatings in Europe and a technology leader in polyurethane, water and UV coatings.
Sayerlack operates several manufacturing sites across Western Europe along with a comprehensive network of sales, technical, and distributor representatives serving clients in Asia and the U.S.
Christopher M. Connor, chairman and CEO of The Sherwin-Williams Company said, "We are pleased to bring Sayerlack, a well respected company and its talented people, into the Sherwin-Williams family. This acquisition reaffirms our commitment to growing globally through organic expansion, accelerated by appropriate acquisitions."
George E. Heath, president of Sherwin-Williams Global Finishes Group, stated, "The acquisition of Sayerlack is a logical step in our efforts to strengthen our growing global platform to better serve our product finishes customers around the world with outstanding R&D, products, and people."
Sayerlack joins S-W's growing Global Chemical Coatings Division following the acquisitions of Inchem and Becker Powder Coatings U.S. in 2008.
Graham Buchan, general manager of the Sayerlack business, said, "We are excited to join the Sherwin-Williams family and to contribute to the company's success across the globe. We have been an admirer of Sherwin-Williams for years, and are delighted to partner with them for the future."
Sherwin-Williams Chemical Coatings Division
The Sherwin-Williams Chemical Coatings Division, part of the company's Global Finishes Group, is a leading manufacturer of advanced technology liquid and powder coating systems for the world OEM market through 13 manufacturing and 79 facility locations across the U.S., Canada, Mexico, Europe and China.
