Teknos has entered into an agreement to acquire the industrial coatings business from Feidal Coatings. The acquisition agreement was signed on 11th of May 2016 and the transaction is expected to materialise by the middle of June.
Feidal Coatings is a German, privately held company that develops, produces and sells paints and coatings. Feidal Coatings' business divisions include industrial coatings and decorative paints.
Feidal’s industrial coatings business estimated net sales is €18m and has approximately 80 employees. The transaction includes acquisition of Feidal GmbH & Co. KG, Brüggen factory and industrial coatings business from Feidal Polska Sp. z.o.o. The Brüggen factory will continue manufacturing industrial metal paints.
Teknos already has paint manufacturing in Fulda, Germany. In the future the acquired business and current Teknos Germany operations will work closely together. Systematic research plays a key role in ensuring high product quality, and innovative product development continues to be the cornerstone for Teknos. The acquisition will further strengthen Teknos position in general industry coatings.
The parties have agreed that the value of the transaction will remain undisclosed.
Teknos Group Oy
Senior Vice President Pekka Rantamäki
tel. +358 400 482 517
CEO Paula Salastie
tel. +358 46 851 2625