June 22, 2015

　　PPG Industries has reached a definitive agreement to acquire IVC Industrial Coatings, Inc., a specialty powder and liquid coatings manufacturer with 2014 sales of more than $100 million. The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.

　　A privately owned company, IVC was founded in 1870 as the Indianapolis Varnish Company. The company is based in Brazil, Ind., and employs over 300 people. Manufacturing powder and liquid coatings for the general industrial segment, IVC sells coatings for products ranging from automotive parts to electronics.

　　Currently, the company operates five plants in the United States: two in Indiana, and one each in Grand Haven, Mich.; Atlanta, Ga.; and Casa Grande, Ariz.). In addition, IVC has a plant in Guangdong, China, and a small development lab in Manchester, England. The company also operates in Malaysia through a joint venture.

　　“Acquiring IVC, which has a large, global distribution footprint, will strengthen our ability to serve a variety of end-use markets and enhance PPG’s supply positions in the U.S. and China,” said Shelley Bausch, PPG vice president of global industrial coatings.