Berlac Group has sold Cetelon to PPG

With Cetelon, PPG acquires Europe’s leading specialist of liquid coatings for aluminum wheels and other specialized applications. Cetelon will ideally complement PPG’s product, technology and customer portfolio, as well as significantly enhance the combined international presence in automotive wheels. With joined forces, PPG and Cetelon will be able to serve their combined customer base with a strong portfolio of high-quality and innovative powder, solventborne and waterborne coatings, resulting in comprehensive wheel coatings solutions on a global scale.

The acquisition of Cetelon is an essential part of PPG’s global auto parts strategy. PPG intends to position Cetelon’s facility in Ditzingen, Germany, as the center of excellence for aluminum wheels in Europe, the Middle East and Africa and leverage Cetelon’s strong original equipment manufacturer relationships, capabilities and expertise to accelerate growth globally.

Lincoln acted as the exclusive mergers and acquisitions (M&A) adviser to Berlac Group, providing process, financial and tactical advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.

Following the sale of Schmid Rhyner to Altana and FoamPartner to Recticel, this transaction represents Lincoln’s third Swiss chemicals deal in the last year, with a combined transaction value of approximately €500 million. This also adds to a long string of global coatings deals advised by Lincoln out of Switzerland, succeeding the sale of Feyco Treffert to Teknos, Schekolin to Siegwerk and Salchi and ILAG to Helvetica Capital.

About Cetelon

Cetelon, founded in 1948 and headquartered in Ditzingen, Germany, is a globally renowned and leading provider of specialized coating systems. The company is Europe’s market-leading supplier of coating solutions for aluminum wheels and a highly reputed manufacturer of coating specialties for automotive interior and exterior as well as niche applications. With approximately 100 employees, Cetelon distributes its products to roughly 350 customers in over 20 countries.

About PPG

PPG, founded in 1883 and headquartered in Pittsburgh, Pennsylvania, is a global manufacturer of paints, coatings and specialty materials for a broad range of applications. PPG has operations in nearly 70 countries with approximately 47,000 employees and has generated sales of $15.1 billion in 2019.

Berlac Group Cetelon PPG 2021 Connect with a Senior Team Member
I thank Lincoln’s team for their exceptional contribution to the successful sale of Cetelon — we had high expectations but these were well exceeded!
Daniel Kesselring
Chairman of Berlac Group

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