MINNEAPOLIS—Paints and coatings manufacturer The Valspar Corp. has completed its acquisition of Inver Holding S.r.l. (Inver Group), an industrial coatings manufacturer headquartered in Bologna, Italy.
With 2012 sales of approximately €160 million (US$200 million), Inver Group specializes in liquid and powder coatings and resin products that are used in a variety of industrial applications including off-road equipment, auto and off-road parts, architectural aluminum windows, railways and trams.
The firm has five production sites and three subsidiaries across Europe, as well as seven distributors focusing on major industrial regions on the continent.
“Our customers will benefit from the combined resources of both companies, giving them access to expanded technologies, a broader product portfolio and superior service,” said Gary Hendrickson, Valspar’s chairman and chief executive officer.
Giovanni Domenichini, Inver’s chief executive officer, will lead Valspar’s combined industrial business in Europe.
Financial terms of the transaction were not disclosed.