HOUSTON (ICIS)--PPG has agreed to buy Dexmet, the US-based paints and coatings producer said on Monday.
PPG said it reached an agreement with private equity firm Sverica Capital Management as part of the deal, which is expected to close in the third quarter. Financial terms were not disclosed.
Dexmet's products are used in in several critical applications, including aircraft lightning strike protection, PPG said.
Headquartered in Wallingford, Connecticut with about 75 employees, Dexmet was founded in 1948 and specialises in customised, highly-engineered, expanded and perforated metal foils and polymers used for mission-critical applications in aerospace, energy storage and other industrial applications.
“Dexmet’s leadership in aerospace surface technologies will provide strategic additions to the broad portfolio of aerospace coatings we deliver today, and PPG’s research and development team will leverage Dexmet’s expertise in ultra-thin metal mesh foil and polymer mesh across the markets we serve,” said Daniel Korte, PPG global vice president, aerospace.