PPG Industries' North American architectural coatings business has reached a definitive agreement to acquire The Homax Group, Inc., a supplier of decorative wall and ceiling texture repair products. 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 not disclosed.
Homax is the industry's 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 company's 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 vice president, architectural coatings, 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 products.