As I was writing this year’s Top Companies Report, one thing stuck with me the most – the paint and coatings market is going through a period of significant consolidation. Between 2020 and the first half of 2021, acquisition activity has been brisk.

PPG is leading the way. The company acquired Ennis-Flint in December 2020. Ennis-Flint is a global leader in pavement markings and traffic safety solutions with a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems. The company has approximately 1,000 employees globally, with a network of manufacturing facilities within the United States, Europe, South America, Australia and Asia. Ennis-Flint’s full year of 2020 revenue is expected to be approximately $600 million.

PPG completed its acquisition of Wörwag, a global manufacturer of coatings for industrial and automotive applications, in May 2021. The company specializes in developing sustainable liquid, powder and film coatings and operates locations in Germany, the U.S., China, South Africa, Mexico, Spain, Switzerland and Poland, with headquarters in Stuttgart, Germany. Founded in 1918, Wörwag employs about 1,100 people globally.

The biggest acquisition for PPG was Nordic paint-maker Tikkurila. The transaction was completed June 2021. The company is a leading producer and distributor of decorative paint and coatings, with operations in 11 countries and more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Its brands include Tikkurila, ALCRO, Teks, Vivacolor, and Beckers. The company employs approximately 2,400 people globally and reported sales of approximately €582 million in 2020.

AkzoNobel recently announced plans to further expand its position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022.

Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around COP $1,200 billion (€260 million). The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services).