Harris Williams Advises Whitford Worldwide on its Sale to PPG
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it exclusively advised Whitford Worldwide Company (Whitford) on its sale to PPG Industries, Inc. (NYSE:PPG; PPG). Whitford is a global manufacturer that specializes in low-friction and nonstick coatings for industrial applications and consumer products. The transaction was led by Patrick McNulty, John Lautemann, Ty Denoncourt and Jeff Mullen of Harris Williams’ Industrials Group.
Whitford, a privately held company headquartered in Elverson, Pennsylvania, was founded in 1969. The company specializes in manufacturing low-friction, wear-resistant coatings for industrial applications in automotive, aerospace, energy and construction markets, and provides coatings services. Whitford also makes non-stick coatings for cookware, bakeware and small electric appliances such as toaster ovens, griddles, fry pans and irons. Whitford employs more than 700 people and operates 10 manufacturing facilities located in Elverson, PA, U.S.; Fostoria, Ohio, U.S.; Guelph, Ontario, Canada; Runcorn, UK; Brescia, Italy; Sao Paulo, Brazil; Jiangmen, China; Zhuhai, China; Tuas, Singapore; and Bangalore, India.
Founded in 1883, PPG manufactures and distributes paints, coatings and specialty materials in the United States and internationally. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries and reported net sales of $15.4 billion in 2018. The company serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ Industrials Group has experience across a variety of sectors, including advanced manufacturing; aggregates, metals, and mining; building products; chemicals and specialty materials; industrial technology; and packaging. For more information on the firm’s Industrials Group and other recent transactions, visit the Industrials Group’s section of the Harris Williams website.
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