Olympus Paints the Corner with Ennis-Flint Sale to PPG

Rhea-AI Summary

Olympus Partners has agreed to sell Ennis-Flint, a leader in pavement markings and traffic safety solutions, to PPG (NYSE: PPG). Under Olympus' ownership since June 2016, Ennis-Flint completed six acquisitions and opened new manufacturing facilities across North America, Europe, and Australia, employing nearly 1,000 team members. Executives from both companies praised their partnership, highlighting the significant growth and support provided during the acquisition phase.

Positive

• Ennis-Flint has expanded significantly with six acquisitions under Olympus' ownership.
• New manufacturing facilities have been established across multiple regions, indicating growth potential.
• Ennis-Flint employs nearly 1,000 team members, reflecting a strong workforce.

Negative

• None.

STAMFORD, Conn., Nov. 30, 2020 /PRNewswire/ -- Olympus Partners is pleased to announce it has agreed to sell Ennis-Flint to PPG (NYSE:PPG). Ennis-Flint is a world leader in pavement markings and traffic safety solutions.

Under Olympus' ownership since June 2016, Ennis-Flint has made six acquisitions. The company has also added several new manufacturing facilities across North America, Europe and Australia. Ennis-Flint employs nearly 1,000 team members.

Dave Cardenas, partner at Olympus, commented: "We are very happy for the Ennis-Flint organization to have found a logical home with PPG and are deeply appreciative of the partnership on both a personal and professional level. It is a privilege to work with such an outstanding management team. We look forward to seeing what our friends at Ennis-Flint can do with the support of PPG behind them."

"Ennis-Flint has thoroughly enjoyed having Olympus Partners as our financial sponsor, strategic sounding board, and trusted advisor for the past four years. Their support for growth both through internal capital projects as well as acquisitions has been critical to our success," said Matt Soule, chief executive officer of Ennis-Flint.

The Olympus team included Dave Cardenas, Matt Boyd, Sam Greenberg and Matt Bujor. Olympus was advised by Patrick McNulty and John Lautemann from Harris Williams. In addition, Olympus was represented by Benjamin Clinger and Matt Goulding from Kirkland & Ellis LLP.

ABOUT OLYMPUS PARTNERS

Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services and manufacturing.

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SOURCE Olympus Partners

FAQ

What is the significance of PPG acquiring Ennis-Flint?

PPG's acquisition of Ennis-Flint enhances its portfolio in pavement markings and traffic safety, indicating a strategic expansion into this market.

When was Ennis-Flint sold to PPG?

Ennis-Flint was sold to PPG on November 30, 2020.

How long was Ennis-Flint under Olympus Partners' ownership?

Ennis-Flint was owned by Olympus Partners for over four years, since June 2016.

What impact does the Ennis-Flint sale have on PPG's stock?

Investors may see potential growth in PPG's stock due to the strategic acquisition of Ennis-Flint, which offers new market opportunities.

What sectors does Olympus Partners invest in?

Olympus Partners focuses on middle market management buyouts and provides capital for expansion across various industries, including manufacturing and services.