Ropes & Gray represented American Industrial Partners in its definitive agreement to acquire the U.S. and Canadian architectural coatings business of PPG, a global paints, coatings, and specialty materials leader. The announcement was made in an October 17 press release. Financial terms were not disclosed. Consummation of the transaction is subject to customary closing conditions.
American Industrial Partners is an industrials investor, with approximately $16 billion in assets under management. AIP is distinctively focused on industrial businesses across a broad range of end markets that include: aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining, and transportation, among others.
This team included private equity partners Doug Giannantonio and Bob Rivollier, private equity associate Holt Baker, executive compensation & employee benefits partner Allie Alperovich, IP transactions partner Jordan Altman, IP transactions associate Giancarlo Lee, real estate partner Peter Alpert, tax partner Tristan Evans-Wilent, employment partners Richard Kidd and Megan Bisk, and finance partners Dan Coyne and Stefanie Birkmann.
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