Founded in 1883 as Pittsburgh Plate Glass, PPG is a US-based global supplier of paints, coatings, optical products, and specialty materials with operations in 75+ countries. PPG had sales of c. US$18b in 2021 and is listed on NYSE (Market Cap of c. US$ 32b April 2022).
Wagram advised Océinde for a strategic partnership including the acquisition of the coating and paints affiliates of PPG in Senegal, Ivory Coast, Cameroon, Gabon, and Algeria (production and distribution). On top of the acquisition of the affiliates, the partnership includes brand licenses (Seigneurerie) and long-term commercial relationship. It will strengthen a longstanding relationship between the companies, which includes the supply of specialty materials from Océinde to PPG. The acquired perimeter (4 factories, sales c.€40m: c.320 employees) serves professional as well as individuals for various sectors including residential housing, infrastructure and automotive.