PITTSBURGH — PPG Industries announced that its offer has been accepted to acquire SigmaKalon Group, a worldwide coatings producer, from global private investment firm Bain Capital. PPG and Bain Capital signed a Sale and Purchase Agreement upon the completion of discussions with appropriate employee representative bodies.

“The process of consulting with and obtaining advice from the relevant employee representative bodies was cooperative and constructive,” says Michael H. McGarry, Vice President, Coatings, and Managing Director, PPG Europe. “As a result, we completed this phase of the process and are now seeking approvals from several regulatory agencies in Europe and elsewhere.”

Based in Uithoorn, Netherlands, SigmaKalon produces architectural, protective, marine and industrial coatings, and is a leading coatings supplier in Europe and other key markets across the globe. The acquisition would give PPG a stronger, more balanced coatings business in Europe.

"SigmaKalon has very successfully developed over the last four years into a best-in-class global coatings company, and we believe the combination with PPG will allow the company to continue – and in some areas accelerate – its successful strategy,” says Walid Sarkis, a managing director at Bain Capital based in London.

For more information visit www.ppg.com or www.baincapital.com.