Privately held specialty-coatings producer Deft will be acquired by PPG Industries (PPG -0.56%) for an undisclosed sum.
Deft's primary business is supplying structural primers and military topcoats to the North American aviation industry, as well as architectural and industrial coatings, though they comprise much smaller parts of its business.
PPG vice president of aerospace Barry Gillespie said, "Acquiring Deft will advance PPG's strategy to remain a leading aerospace coatings supplier. Deft's waterborne and chrome-free technologies complement PPG's existing coatings capabilities and will provide PPG with a broader product portfolio, particularly within the aerospace industry."
PPG Aerospace is the aerospace products and services business of PPG Industries, and a diverse, global supplier with 18 coatings facilities around the world. Its PRC-DeSoto division is the leading global producer of aerospace sealants, coatings, and packaging and application systems while its Transparencies segment is the world's largest supplier of aircraft windshields, windows, and canopies.
The transaction is expected to close in the second quarter, subject to customary closing conditions.
