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KCK manufacturer acquired by Fortune 500 company

DalFort Capital Partners, owner of metro-based protective coating manufacturer Versaflex, has reached an agreement to sell the latter to PPG Industries. The acquisition is expected to close within the first quarter of 2021.

Locally-headquartered protective coating manufacturer VersaFlex has been acquired by Pittsburgh, Pa.-based PPG Industries Inc.

DalFort Capital Partners, owner VersaFlex, made a definitive agreement with PPG. Financial details of the agreement were not disclosed.

VersaFlex is based in Kansas City, Kan. and manufactures polyurea, epoxy and polyurethane coatings. VersaFlex brought in about $70 million in revenue in 2020 according to a report from PPG, which plans to close on the acquisition in the first quarter of 2021.

“VersaFlex’s attractive segment mix with strong growth outlook, unique product offering, broad expertise and manufacturing capabilities in polyurea and flooring coatings will complement and expand upon PPG’s current product offerings,” Ram Vadlamannati, PPG’s senior vice president of protective and marine coatings, said in a Tuesday news release. “This acquisition supports PPG’s commitment to growing our industry-leading technology portfolio and customer touchpoints.”

PPG reported it will bring on about 130 employees across three manufacturing sites— in Kansas, Oklahoma and Washington — from the acquisition.

PPG makes paint, protective and decorative coatings, glass, silica products and other materials. It ranks 209th on the Fortune 500, with $15.15 billion in revenue in 2019.