“This is an excellent intended acquisition which aligns perfectly with our Grow and Deliver strategy of creating leading global positions and driving growth in emerging markets,” explained Thierry Vanlancker, AkzoNobel CEO. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins) and Mundial (distribution and services).

Present in ten countries in South America, Central America and the Antilles, Grupo Orbis has consolidated revenue of around €260 million. Completion is subject to regulatory approvals and is expected by end of this year, or in early 2022. Although the privately-owned company operates out of a facility in Clearwater Beach, Florida, New Nautical Coatings is reported to be one of the top players in yacht coatings in North America, generating sales in the Caribbean and Australasia areas as well.AkzoNobel is to further expand its long-term position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. AkzoNobel announced the transaction in October and at the time said that the move aims to further grow in Europe with Titan’s shared commitment to sustainable product innovation.Īt the end of 2020, AkzoNobel announced that it was set to increase its presence in the North American yacht coatings market with its acquisition of New Nautical Coatings. The business, which has 425 employees, reportedly shares AkzoNobel’s commitment to sustainable product innovation. The transaction includes three production facilities (in Barcelona and Las Palmas, Spain, and Maia, Portugal) and seven logistics and service centers for decorative paints, including “one of the modern manufacturing plants for water-based paints in Europe,” according to the company. The financial terms of the deal were not disclosed, although, according to AkzoNobel, Titan generated an annual revenue of around 80 million euros. Around the same time intentions of the Grupo Orbis acquisition was announced, the company revealed that its acquisition of 100% of the shares of Industrias Titan S.A.U., a decorative paints business based in Spain, was completed. This is just the latest in a long string of acquisitions by AkzoNobel throughout 2021. “Likewise, we find great opportunities for the development of our employees and our clients, who will be able to access an enlarged and more complete portfolio.”įinancial terms of the acquisition were not disclosed. We strongly believe there are several benefits, such as access to technology and innovation pipelines,” said Grupo Orbis CEO Andres Bernal back in June. “This agreement represents an important growth opportunity for Orbis Group’s companies. In addition to creating value from global and regional product and service innovation, AkzoNobel says the acquisition will enable it to better serve customers across more geographies, as well as accessing new markets.

In total, Grupo Orbis employs about 3,000 people and has eight operational manufacturing sites. The Pintuco portfolio is noted to be made up of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, which is slated to create several opportunities for revenue synergies. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).

Grupo Orbis has a presence in 10 countries and has a consolidated revenue of around 360 million euros. Last month, global coatings company AkzoNobel announced that it had completed the acquisition of Colombia-based paints and coatings company Grupo Orbis.

Grupo orbis colombia