PPG has reached a definitive agreement to acquire The Homax
Group, a supplier of decorative wall and ceiling texture
repair products, officials announced on Thursday.
Homax is a portfolio company of Olympus Partners.
The transaction is expected to close in the third quarter,
subject to customary closing conditions. Financial terms were
Homax is the industrys leading supplier of decorative
aerosol drywall and ceiling texturing applications utilized
primarily for home repair. In addition, it supplies various
epoxy finishes, patching, caulking and mesh tape repair
products, and other painting tools and accessories.
The companys products are sold through major home
improvement centers, hardware stores and paint suppliers.
Homax products represent a new and unique offering for
our customers, said Scott Sinetar, PPG's vice president
of architectural coatings in North America. The
acquisition supports our continuing commitment to providing
professional and do-it-yourself customers with leading
coatings and related home remodeling and repair