Valspar Corp. has entered into a definitive agreement to acquire Inver Holding S.r.l. (Inver Group), a European industrial coatings manufacturer. The transaction is expected to close in the fiscal fourth quarter, subject to regulatory approval and customary closing conditions. Financial terms were not disclosed.
Inver Group is headquartered in Bologna, Italy, and generated sales in 2012 of approximately $200 million. Founded in 1934, the company specializes in liquid and powder coatings products as well as resins that are used in a variety of industrial applications, including off-road equipment, auto and off-road parts, architectural aluminum windows, railways and trams. It serves customers primarily in Italy, the United Kingdom, France, Germany and Poland.