Cleveland, OH
216/566.2000
Chairman/CEO in 2023: John G. Morikis (currently Chairman)
President/COO in 2023: Heidi G. Petz (currently CEO)
www.sherwin-williams.com
2023 Coatings Sales: Approx. $18.44 billion

The Sherwin-Williams Co. was founded in 1866 by Henry Sherwin and Edward Williams. The company provides coatings and related products to professional, industrial, commercial, and retail customers in paint stores in the United States, Canada, and the Caribbean. Employing approximately 64,000 people, Sherwin-Williams is organized into three segments: the Paint Stores Group, the Consumer Brands Group, and the Performance Coatings Group.

Sherwin-Williams reported total consolidated sales for 2023 of approximately $23.05 billion. It is estimated that approximately 80% of sales, or about $18.44 billion, represents coatings sales, with the remainder being related to products such as floor coverings, application supplies, and wallcoverings. The Paint Stores Group reported a net sales increase of 7.3% to $12.8 billion in 2023, which accounts for 56% of total 2023 sales for the company. Net sales in the Consumer Brands Group decreased 0.7% in 2023 to $3.4 billion. This accounts for 14% of 2023 total sales. The Performance Coatings Group reported a 0.7% increase in net sales in 2023 to $6.8 billion. Performance Coatings Group sales represent 30% of total sales for 2023.

The Paint Stores Group operates the exclusive outlets for Sherwin-Williams^®-branded paints, stains, supplies, equipment and floor covering in the United States, Canada, and the Caribbean region. Products sold in this group include paints, stains, aerosols, applicators, caulks, varnishes, protective and marine coatings, spray equipment, and related products in the United States, Canada and the Caribbean. Wall covering and floor coverings in the United States, Canada and the Caribbean. Brands include Sherwin-Williams^®, A-100^®, Builders Solution^®, Captivate^®, Cashmere^®, Duration^®, Emerald^®, Gallery Series^™, Kem Tone^®, Latitude^®, Loxon^®, Metalatex^®, Novacor^®, Painters Edge Plus^™, ProClassic^®, ProCraft^®, Pro Industrial^™, ProMar^®, Scuff Tuff^®, SuperDeck^®, SuperPaint^®, and Woodscapes^®. The Group operates 4,694 Sherwin-Williams paint stores in the United States, Canada, and the Caribbean.

The Consumer Brands Group sells branded and private-label products through retailers and distributors in North America and Europe. Products sold in this group include branded, private-label and licensed brand paints, stains, varnishes, industrial products, wood finishing products, wood preservatives, applicators, corrosion inhibitors, aerosols, caulks and adhesives, and related products. Brands include Cabot^®, Colorgin^®, Condor^®, Dupli-Color^®, Dutch Boy^®, Geocel^®, HGTV HOME^® by Sherwin-Williams, Krylon^®, Minwax^®, Purdy^®, Ronseal^®, Sherwin-Williams^®, Thompson’s^® WaterSeal^®, Valspar^®, and White Lightning^®. The group has over 10,000 points of distribution with leading mass merchandisers, home centers, independent paint dealers, hardware stores, craft stores, fine art stores, automotive retailers and industrial distributors in the United States, Canada, and Europe. There are 318 Sherwin-Williams paint stores in Brazil, Chile, Ecuador, Mexico, and Uruguay, as well asdedicated dealers, home centers, distributors, and hardware stores in Argentina, Brazil, Chile, Ecuador, Mexico, and Uruguay. A licensee in El Salvador serves Central America.

The Performance Coatings Group sells coatings and finishing solutions to customers in the general industrial, industrial wood, protective and marine, automotive refinish, packaging, and coil markets. Brands include Sherwin-Williams^®, Acrolon^®, AcromaPro^®, ATX^®, DeBeer Refinish^®, Duraspar^®, EcoDex^®, Envirolastic^®, Excelo^®, EzDex^®, Fastline^®, Firetex^®, Fluropon^®, Gross & Perthun^TM, Heat-Flex^®, House of Kolor^®, Huarun^®, ICA^®, Inver^®, Kem Aqua^®, Klumpp Coatings^TM, Lazzuril^®, Macropoxy^®, Martin Senour^®, Matrix Edge^®, M.L. Campbell^®, Octoral^®, Oskar Nolte^TM, Perma-Clad^®, Polane^®, Powdura^®, Sayerlack^®, Sher-Wood^®, Sumaré^®, Ultra 9K^®, Ultra 7000^®, ValPure^®, and Valspar^®. Company-operated branches and facilities serve automotive, general industrial, industrial wood, and coil customers in the United States, Australia, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Ireland, Italy, Lithuania, Malaysia, Mexico, Norway, Peru, Poland, Portugal, Romania, Singapore, Spain, Sweden, Thailand, Ukraine, United Kingdom and Vietnam.

Notes: The Sherwin-Williams Company has continued its “The Building Our Future” project consisting of a new global headquarters located in downtown Cleveland, and a research and development center located in Brecksville, Ohio. The new headquarters will offer more opportunities to celebrate the Sherwin-Williams brand, as well as act as a catalyst for future development in and around its new campus. The R&D center will be responsible for product development, coatings research, color technology, and process engineering. The new facilities will house more than 4,000 employees made up of professional staff, engineers, technicians, and chemists, with room to accommodate future growth. The transition to the new facilities is expected to occur by the end of 2024. In July 2023, the company, along with the project’s construction workers, celebrated a ‘topping-off’ with the placement of the final steel beam for the R&D center. This milestone marked the completion of the construction project’s structural work, a project that began with a groundbreaking ceremony in October of 2021.

In April of 2023, the company completed the divestiture of a non-core domestic aerosol business within the Consumer Brands Group. The business manufactures and sells decorative paints under the Huarun^® brand name in China, has annual revenue of approximately $100 million USD and employs approximately 300 people. The business was sold to AkzoNobel.

On August 7, 2023, Sherwin-Williams reported an explosion at its manufacturing facility in Garland, Texas, which resulted in a fire. One employee had minor injuries, and there were no fatalities. The source of the fire was unknown, but likely started near the utility and resin manufacturing area of the building. As a result, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) assessed $290,358 in proposed penalties for the company.

In October 2023, The Sherwin-Williams Company announced that its Board of Directors elected Heidi G. Petz to serve as the Company's next Chief Executive Officer (CEO), effective January 1, 2024. Petz served as President and Chief Operating Officer of Sherwin-Williams for the last two years. After serving as CEO since 2016, John G. Morikis will continue to serve as Executive Chairman. In addition, the Board increased its size from 10 to 11 members and elected Petz to fill the resulting vacancy, effective October 10, 2023.

Also in October 2023, the company completed the acquisition of German-based SIC Holding GmbH, a Peter Möhrle Holding venture comprised of Oskar Nolte GmbH and Klumpp Coatings GmbH (SIC Holding). This business specializes in foil coatings as well as radiation-cured and water-based industrial wood coatings for the board, furniture, and flooring industries. The company funded the acquisition with approximately $265 million in cash. The purchase price is subject to certain closing conditions which are expected to be finalized in 2024. As of December 31, 2023, $110.8 million of finite-lived intangible assets, $154.2 million of goodwill, $46.1 million of other assets, net of cash and $46.7 million of liabilities were recognized from this transaction.

Source: Annual Report, company website, press releases, www.reuters.com, www.wfaa.com

Image courtesy of the Associated Press.

Pittsburgh, PA
412/434.3131
President/CEO: Tim Knavish
www.ppg.com
2023 Coatings Sales: $18.2 billion

At PPG, team members work every day to develop and deliver the paints, coatings, and specialty materials that customers have trusted for 140 years. Through dedication and creativity, they solve customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, the company operates and innovates in more than 70 countries and reported net sales of $18.2 billion in 2023, up about 3.4% versus the prior year. PPG serves customers in the construction, consumer products, industrial and transportation markets, and aftermarkets.

Organic sales were up by 3%, driven by higher selling prices resulting from continued selling price initiatives. The increase was led by growth in aerospace coatings and automotive OEM coatings despite lower global industrial production. Net income in 2023 increased versus 2022 due to lower raw material costs, partially offset by higher selling, general and administrative expenses, and lower sales volumes. In 2023, the company paid $600 million in dividends. Additionally, the company recorded $17.5 million in global community giving, and $10.3 million was invested in advancing education in STEM.

Notes: PPG also continued to take actions to further advance its sustainability commitments. In 2023, the company became the first U.S.-based coatings manufacturer to receive validation from the Science Based Targets initiative (SBTi) for scope 1, 2 and 3 greenhouse gas emissions reduction targets. In addition, PPG announced 2030 sustainability goals that focus on driving sales of sustainably advantaged products that help its customers achieve their sustainability objectives while reducing the environmental impact of products. In 2023, 44% of sales were from products and processes that address multiple sustainability benefits, including lower volatile organic compound emissions, enhanced energy efficiency, improved durability, or the use of renewable raw materials.

In 2023, PPG completed 60 COLORFUL COMMUNITIES^® projects in 26 countries, reaching its 500^th project since the program’s launch in 2015. PPG has made a positive impact for more than 9.2 million people, with the help of 26,500 PPG employees and community members who have volunteered in 50 countries.

In April 2023, GLIDDEN paint by PPG became the primary paint brand at Walmart in the United States. Also in April, PPG completed a $15 million expansion of its Brazil, Indiana, powder coatings plant.

In May 2023, PPG launched paint films solutions for automotive and industrial customers through PPG Advanced Surface Technologies, a new joint venture formed with entrotech, Inc., a provider of technology-driven film solutions. Also in May, PPG announced a $44 million investment to upgrade five powder coating manufacturing facilities in the United States and Latin America. The projects are part of PPG’s strategic efforts to expand its powder coatings offerings and increase global production to meet growing customer demand for sustainably advantaged products. Collectively, the investment, $30 million for United States plants and $14 million for facilities in Latin America, is expected to increase overall capacity, add production capabilities for bonded metallic powders, improve processing times with automated packaging, and enhance capabilities to produce small, medium, and large batches.

In June of 2023, PPG opened a $30 million battery pack application center in China. That same month, the company launched low-temperature-cure electrocoats for automotive manufacturers—PPG ENVIRO-PRIME^® EPIC 200R coatings.

In August of 2023, PPG opened a customer and employee experience center at its global headquarters, marking the company’s 140^th anniversary.

In September of 2023, PPG completed the $2.7 million powder coatings factory expansion in Brazil, increasing the production capacity of the facility by 40%.

In October 2023, PPG announced that Tim Knavish was elected as PPG chairman and CEO, effective October 1, 2023. Knavish succeeds Michael McGarry who served as chairman and CEO from 2016 to 2022, and retired as executive chairman.

In December of 2023, PPG opened a $17 million aerospace application support center in France. The facility provides filling and packaging capabilities for aerospace materials, including coatings and sealants for a wide range of aircraft, as well as technical support and a laboratory.

Source: Company contact, Annual Report, press releases

Image courtesy of PPG.

Medina, OH
330/273.5090
President/CEO: Frank C. Sullivan
www.rpminc.com
2023 Coatings Sales: $7.3 billion for fiscal year ended May 31, 2023

RPM owns subsidiaries that are world leaders in specialty coatings, sealants, building materials, and related services across four segments.

RPM’s Construction Products Group is comprised of businesses that manufacture construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding and concrete forms, flooring systems, and waterproofing solutions. They are used for construction, maintenance and restoration of various industrial, commercial, and infrastructure applications. Leading brands include Tremco, Flowcrete, Euclid Chemical, Nudura, and Dryvit. The group’s products are sold to distributors, contractors and end users over a large geographic footprint that spans approximately 130 countries and territories. The Construction Products Group generates about 36% of RPM’s net sales.

RPM’s Performance Coatings Group provides construction, maintenance, and restoration products, including high-performance flooring solutions, corrosion control and fireproofing coatings, fiberglass-reinforced plastic grating, and drainage systems for industrial and commercial use. Leading brands include Stonhard, Carboline, and Fibergrate. Its products are sold worldwide to contractors and distributors, as well as directly to end users with a unique supply-and-apply model serving manufacturers, public institutions, and other commercial customers. The Performance Coatings Group generates approximately 18% of RPM’s total sales.

RPM’s Consumer Group includes businesses that make small-project paints and coatings, primers, caulks and sealants, hobby and craft products, wood stains and finishes, wall and wood repair products, and household cleaners and stain removers that are used by professionals and do-it-yourselfers for home maintenance and improvement. Leading brands include Rust-Oleum, DAP, Zinsser and Varathane. Its products are marketed primarily in North America, with an increasing presence in Europe, Australia, South Africa, and South America. Sold through home improvement centers, hardware and paint stores, mass merchants, and craft shops, these brands can be found on nearly every garage or basement shelf throughout the United States and Canada. The Consumer Group generates approximately 35% of RPM’s net sales.

RPM’s Specialty Products Group is comprised of businesses that produce fluorescent pigments, wood stains, finishes and treatments, powder coatings, marine coatings, restoration and cleaning solutions, edible coatings, and other specialty OEM coatings. Leading brands include DayGlo, Legend Brands, TCI, and Kop-Coat. Its products are marketed primarily in the United States, with a growing presence throughout Europe. They are sold to contractors and distributors, as well as directly to end users such as manufacturers, public institutions, and other commercial customers. The Specialty Products Group generates about 11% of RPM’s total sales.

Parent Company: RPM International Inc.

Notes: RPM continues to be active in pursuing acquisitions of successful entrepreneurial companies and product lines that complement its portfolio of specialty coatings, sealants, and construction chemicals businesses. Over the last 30 years, RPM has completed more than 175 acquisitions, with more than 60 of these transactions being completed during the last decade. RPM completed six strategic business acquisitions in fiscal 2023.

In January of 2023, RPM appointed Andrew G. Polanco as Vice President, Manufacturing, replacing Gordon M. Hyde, who retired.

In March of 2023, RPM announced a partnership with Cleveland State University for a new environmental graduate education program and career placement. The partnership will provide world-class graduate-level education at discounted rates for three current environmental graduate programs: Master of Arts in Environmental Studies, Master of Science in Environmental Engineering, and Master of Science in Environmental Science.

In October of 2023, RPM acquired leading panelized wall systems fabrication business, NOW Specialties, LLC, and is now part of RPM’s Tremco Construction Products Group.

Source: Company contact, 2023 Annual Report, press releases

Image courtesy of RPM.

Philadelphia, PA
855/547.1461
President/CEO: Chris Villavarayan
www.axalta.com
2023 Coatings Sales: Approx. $5.2 billion

With more than 150 years of experience in the coatings industry, Axalta Coating Systems serves more than 100,000 customers in over 140 countries with mobility and performance coatings. In 2023, the company reported 40% of its sales were in North America, 34% in EMEA, 15% in Asia-Pacific, and 11% in Latin America.

Axalta operates in two business segments: Performance Coatings and Mobility Coatings. In 2023, Performance Coatings accounted for $3,407.7 million in sales (65.7% of overall sales). This segment includes refinish coatings, which recorded $2,084.3 million in sales, and industrial, which recorded $1,323.4 million in sales. Brands include Cromax^®, Standox^®, Spies Hecker^®, Syrox^™, and Raptor^®.

Axalta’s Mobility Coatings segment recorded sales of $1,776.4 million (34.3% of overall sales). Within this segment, light vehicle coatings accounted for $1,340.4 million in sales, while commercial vehicle coatings accounted for $436 million in sales. In terms of end markets, refinish coatings accounted for 40% of net sales in 2023, while industrial coatings accounted for 26% of sales. The light vehicle end market accounted for 26% of 2023 total sales, and commercial vehicles accounted for 8%.

Notes: In February of 2023, Axalta Coating Systems announced that it was the recipient of three prestigious 2023 Edison Awards. Axalta’s Abcite^® 2060 Flame Spray Powder Coating, AquaEC^® Flex, and Self Priming Kitchen Cabinet Coating won for the Sustainability, Smart Transportation, and Material Science categories, respectively. Named after Thomas Edison, the Edison Awards have recognized and honored some of the most innovative new products, services, and business leaders in the world since 1987. The AquaEC^® Flex Broad Bake Electrocoat also won a 2023 BIG Innovation Award, presented by the Business Intelligence Group (BIG). The annual business awards program recognizes organizations, products and people that bring new ideas to life in innovative ways.

In July 2023, the company appointed Carl Anderson as Senior Vice President and Chief Financial Officer, effective August 14, 2023, replacing Sean Lannon.

In August of 2023, Axalta announced that it was the recipient of a 2023 R&D 100 award in the Mechanical and Materials category for its next-generation Imron^™, a coating technology that delivers sustainability benefits and improves production cycle time for transportation customers. Since 1963, the R&D 100 awards program has recognized the top 100 revolutionary technologies from the world’s leading Fortune 500 companies, federally funded research institutions, academic and government labs, and smaller companies.

Also in August, Axalta announced a partnership with Xaar to introduce a new digital paint technology for the transportation industry. Axalta NextJet^™ enables design flexibility for two-tone vehicles and allows customers to create patterns, details, and images in a sustainable way.

In September 2023, the company announced that Senior Vice President, General Counsel and Corporate Secretary, Brian Berube, would retire at the end of 2023 and be replaced by Alex Tablin-Wolf, effective January 1, 2024.

In October 2023, Axalta was named the exclusive supplier for BMW Group’s private paint label ColorSystem in the EMEA. As part of the agreement that runs through December 2028, Axalta will also provide its latest, innovative Fast Cure Low Energy technology paint system. This system has the potential to reduce carbon equivalent emissions and energy consumption by up to 45% as compared to standard paint technologies.

Source: Annual Report, press releases

Image courtesy of Axalta.

Santa Ana, CA
714/545.7101
CEO: Jeff Filley
www.behr.com
2023 Coatings Sales: Approx. $2.55 billion

In business since 1947, Behr Paint Co. is one of the largest manufacturers of paints, primers, decorative finishes, stains, and surface preparation products for do-it-yourselfers and professionals in North America. Behr is part of the Decorative Architectural Products segment of Masco Corp. Behr produces architectural coatings, including paints, primers, stains, and waterproofing products. Products are sold in North America and South America under the brand names BEHR^®, KILZ^®, WHIZZ^®, Elder & Jenks^®, and other trademarks to “do-it-yourself” (DIY) and professional customers through home center retailers and other retailers. They are sold to DIY and professional customers through paint stores, home centers, and other retailers. Behr is a leader in the DIY market, partnering with The Home Depot to sell paints, decorative finishes, primers, stains, and surface-preparation products. The Home Depot is Behr’s largest customer, with brand exclusivity in North America. In 2023, sales from that segment represented $2.55 billion, which is 32% of the 2023 total net sales for Masco Corp. of $7.97 billion. Net sales in the Decorative Architectural Products, in which Behr is a part of, decreased 9% in 2023, primarily due to lower sales volume, partially offset by higher net selling prices.

Parent Company: Masco Corp.

Notes: In March of 2023, Behr Paint Company announced its commitment to celebrating the achievements and inspiring the next generation of women. The company launched Women in Paint, a program created to highlight the company's commitment to elevating professional women painters' voices, celebrating their achievements, and inspiring the next generation. The program is a partnership with the Painting Contractors Association (PCA) to help grow the presence of women in a male-dominated industry by spotlighting career journeys, and providing educational opportunities and training resources to women through the PCA's Women in Paint group.

In April 2023, Behr Behr introduced its first-ever Exterior Wood Stain Color of the Year, Cordovan Brown.

In June of 2023, Behr debuted the BEHR^® BioNature Collection, a nature-based paint color palette informed by biophilic design concepts—bridging outdoor and indoor elements and bringing a sense of harmony and wellbeing to any built environment.

Source: Masco Corp. Annual Report, company website, press releases

Image courtesy of Behr.

Montvale, NJ
201/573.9600
Chairman and CEO: Dan Calkins
www.benjaminmoore.com
2023 Coatings Sales: $1.1 billion (as estimated by Dun & Bradstreet)

Benjamin Moore, a Berkshire Hathaway company, was founded in 1883 and remains one of the world’s leading paint, color, and coatings brands. A manufacturer of premium quality residential and commercial coatings, Benjamin Moore maintains a relentless commitment to innovation and sustainable manufacturing practices. The portfolio spans the brand’s flagship paint lines including Aura^®, Regal^® Select, Ben^®, Ultra Spec^®, Advance^®, Scuff-X^®, Insl-X^®, and more. Benjamin Moore is renowned for its more than 3,500 colors, and its design tools and expertise for consumers and professionals alike. Benjamin Moore products are available exclusively from more than 8,500 locally owned and operated paint, decorating, and hardware retailers throughout the United States, Canada, and another 74 countries globally.

Parent Company: Berkshire Hathaway

Notes: In March of 2023, the company launched the reformulated Regal Select Interior product. The enhanced formulation features proprietary stain-release technology, increased scuff-resistance, and washes clean without compromising color or sheen integrity. The durable, washable finish enables easier clean-up of common household stains such as pencil, crayon, coffee and more, across all Benjamin Moore colors.

Also in March, Benjamin Moore announced initiatives for Contractor Appreciation Month 2023, building on its first-ever Contractor Appreciation Week the prior year. Taking place throughout the month of March, Contractor Appreciation Month is an expression of gratitude to painting contractors for the work that they do every day to transform and refresh ordinary spaces with precision. In recognition of the dedication and craft of the thousands of professional painters around North America, the month-long celebration included in-store events, giveaways, product demonstrations and more, alongside Benjamin Moore representatives and retailers.

In April of 2023, Benjamin Moore launched Element Guard, the newest premium exterior paint specially formulated to tackle one of the most difficult painting environments: high moisture. Designed to withstand wind-driven rain, excessive humidity, and other harsh weather conditions, Element Guard exterior paint is ideal for use on various exterior substrates such as vinyl and cedar siding, wood, brick, and more. The paint can resist rain as soon as 60 minutes after application and be applied in temperatures as low as 35 °F, extending the painting season and assuring that professionals can paint with confidence.

In June of 2023, Benjamin Moore released its new Color Match Tool, a small, take-with-you-everywhere device that lets users scan the flat surface of any color, to instantly find its closest paint color match with just the tap of a button. It connects to the Benjamin Moore Color Portfolio app so consumers can find desired colors or browse through any of Benjamin Moore’s digital fan decks of over 3,500+ colors.

In November of 2023, Berkshire Hathaway Vice Chairman Charlie Munger passed away.

Source: Berkshire Hathaway Annual Report, press releases, company contact

Image courtesy of corporateofficeheadquarters.org.

Andover, MA
978/623.9980
CEO: Jay Doubman
www.icpgroup.com
2023 Coatings Sales: $700 million

Innovative Chemical Products (ICP) is a leading specialty coatings, adhesives, sealants, and chemicals manufacturer in North America. With operations headquartered in Andover, Massachusetts, and Tampa, Florida, manufacturing facilities across the United States, ICP serves multiple end markets, including building materials, specialty construction, and sports surfaces. ICP is privately held and manufactures products under several recognized brands.

A portfolio company of Audax Private Equity, ICP Group manufactures products under several recognized brands through two distinct business units. ICP Building Solutions Group focuses on product solutions dedicated to delivering high-performance professional products and services for building and construction applications.

Notes: In February of 2023, Stahl, a provider of coatings technologies headquartered in the Netherlands, acquired ICP Industrial Solutions Group (ISG), a leader in high-performance packaging coatings. ISG, a division of Innovative Chemical Products (the ICP Group), offers a comprehensive portfolio of high-performance coatings used primarily in packaging and labeling applications, notably in the resilient food and pharmaceutical sectors. ISG is mostly present in North America (close to 70% of sales), where it is a recognized technical leader. ISG was expected to report 2022 sales of approximately $140 million, and the acquisition will bring Stahl’s annual sales beyond the €1 billion mark, with an EBITDA margin above 20%.

In September 2023, ICP named Jay Doubman as its new President and Chief Executive Officer. Doubman rejoined ICP Group after previously serving as President of ICP’s Building Solutions Group as recently as 2021. Immediately prior to his appointment as CEO, Doubman served as Chief Operating Officer of Ecore International, a leading manufacturer of recycled-rubber indoor and outdoor surfaces.

Also in September, ICP celebrated the 70^th anniversary for California Sports Surfaces, an ICP Group Brand. The brand is known for products such as Plexipave^®, an athletic surfacing systems since 1953; Plexitrac^®, an advanced track surface; and CoolTop^® Color Pigment Technology, which helps to reduce on-court temperatures.

Source: Company contact, press releases

Image courtesy of ICP Group.

San Lorenzo, Puerto Rico
787/736.4221
CEO: Sergio Blanco
www.lancopaints.com
2023 Coatings Sales: $500 million

Since beginning operations in 1978, Lanco Paints & Coatings' mission has been one of superior customer satisfaction centered on a drive to produce the best quality products. Lanco’s product line encompasses applications ranging from architectural coatings and wood finishes to industrial adhesives and high-performance sealants. This family owned company has grown to an international enterprise with manufacturing facilities in the United States, the Caribbean, Central America, and South America. It currently has 13 manufacturing facilities and four distribution centers, employing over 2,300 people.

The company reports 84% of sales are within the architectural/decorative segment, 15% of sales are in the general industrial and industrial maintenance segment, and 1% of sales are in the automotive refinish segment.

Source: Company contact

Image courtesy of Lanco.

Surrey B.C., Canada
604/569.6261
www.cloverdalepaint.com
Rodda Paint Co.
Portland, OR
800/242.3713
www.roddapaint.com
Chairman and CEO: Tim Vogel
2023 Coatings Sales: Approx. $365.5 million (combined)

Cloverdale Paint operates plants in Canada in Surrey, BC; Winnipeg, MB; Mississauga, Ontario; Oakville, Ontario; London, Ontario; and Calgary, AB. Rodda Paint Co. operates plants in the United States in Portland, Oregon; Woods Cross, Utah; and Vancouver, Washington. The company sells architectural coatings and related products through 393 distribution points that include corporate stores as well as independent dealers throughout Canada and the Pacific Northwest, including Alaska. Cloverdale’s industrial maintenance, protective coatings, and OEM products are sold through its corporate stores and industrial distribution service centers located in Surrey, BC; Calgary, AB; Edmonton, AB; Winnipeg, MB; Mississauga, Ontario; London, Ontario; Portland, Oregon; and Montreal, QC.

Rodda Paint Co. is an independent subsidiary of the Cloverdale Group. Headquartered in Portland, Oregon, the company has 140+ retail locations across the Northwest, including 60 full-service company stores.

Notes: On November 1, 2023, Rodda Paint completed the acquisition of Valley Paint Manufacturing located in Woods Cross, Utah. Founded in April 1982 by Russell Swan and Brad Olson with a vision to fill a niche in the local market for light industrial coatings, Valley Paint Manufacturing has built an outstanding reputation in manufacturing quality products since growing their sales both regionally and nationally from their facility located in Woods Cross, Utah. With a robust employee base, manufacturing and distribution capacity, and technical and sales expertise, the Valley Paint Manufacturing acquisition provides high-quality people, industrial technology, manufacturing, and formulating capacity to Rodda Paint Co. and the Cloverdale Paint Group. Valley Paint Manufacturing will continue to operate independently in the Salt Lake City area with the support of Rodda Paint Co., making products to service their existing customers and expanding their sales and operations to further grow distribution nationwide. David Wolf, President and COO of Rodda Paint, along with Brian Villa, Executive VP of Sales & Operations of Rodda Paint, and Tim Vogel, Chairman & C.E.O. of Cloverdale Paint Group, are extremely pleased with the fit between Rodda Paint Co. and Valley Paint Manufacturing.

In September 2023, Cloverdale Paint announced upgrades to its Surrey, BC, manufacturing plant and the establishment of a distribution facility and warehouse in North Surrey. The plant expanded its manufacturing capabilities by investing in automated, high-speed paint processing, which more than doubled its decorative paint production capability. With the additional investment in new manufacturing equipment, the company moved its finished goods distribution and warehouse from the Surrey plant to a new 60,000-square-foot high-bay facility with increased stocking capacity, as well as a special area designed for the handling and storage of high-performance industrial coatings.

Source: Company contact, company websites

Image courtesy of Cloverdale.

San Carlos, CA
800/874.4436
Chairman and CEO: Steve De Voe
www.kellymoore.com
2023 Coatings Sales: Approx. $282 million (PCI estimate)

In January of 2024, Kelly-Moore Paints announced that the company would immediately cease operations and commence an orderly, out-of-court wind-down of substantially all its business. Approximate 2023 company sales were $282 million.

Kelly-Moore decided to shut down after spending a total of $600 million on asbestos settlements, while still dealing with cases being filed. During the wind-down process, the company continued to endeavor to fulfill previously placed customer orders to the extent possible from existing inventory in Kelly-Moore’s Union City, California, distribution facility. All the company’s other facilities were immediately closed, including Kelly-Moore’s manufacturing facility in Hurst, Texas, and its retail stores, all of which were leased.

Founded in San Carlos, California, in 1946 by William Kelly and William Moore, Kelly-Moore Paint Company has been a staple in the paint industry. With a state-of-the-art manufacturing facility in Texas and more than 280 retail outlets, Kelly-Moore’s 1,200+ employees were located across California, Nevada, Oklahoma, and Texas.

Kelly-Moore Paints, a Flacks Group Company, produced and sold some of the most technologically advanced paint products, and set the industry standard for new product development and quality control.

Parent Company: Flacks Group

Source: Press releases, zippia.com

Image courtesy of Google Maps.

Orange City, IA
712/737.8880
President/CEO: Jeffrey Powell
www.diamondvogel.com
2023 Coatings Sales: $250 million

Diamond Vogel provides coating solutions throughout North America to the industrial, architectural, industrial wood, aerosol, traffic, and toll manufacturing markets. Founded in 1926, the Orange City, Iowa, company manufactures liquid and powder coatings sold under the brand names of Diamond Vogel, Old Masters, Van Sickle, Precision Color, Quest, Raabe, and Z-Line. Diamond Vogel operates a network of eight manufacturing facilities, shipping coatings throughout North America, and 40 company-owned stores in 10 Midwestern states.

Notes: In April 2023, Diamond Vogel acquired an aerosol and touch-up solution manufacturing facility located in Menomonee Falls, Wisconsin, from Sherwin Williams. The location employs approximately 100 people and manufactures color-match touch-up paint, custom aerosol, and other specialty coatings.

In September 2023, Diamond Vogel had a ribbon-cutting ceremony, opening its Innovation Center on the company’s corporate campus in Orange City, Iowa. The Innovation Center adds 36,000 square feet of state-of-the-art laboratory and office space.

Source: Company contact, press releases

Image courtesy of Diamond Vogel

Milwaukee, WI
414/353.4200
Chairman and CEO: Albert Hentzen
www.hentzen.com
2023 Coatings Sales: $165 million

In 2023, Hentzen Coatings celebrated its 100^th year in business. Owned and actively managed by the Hentzen family since 1923, the company continues to leverage the flexibility of private ownership to encourage innovation and creativity in both liquid and powder coatings. The inspiration created by this atmosphere has allowed for the unbridled development of significant new coatings technologies for the aerospace, defense, and general industrial markets. As a leader in advancing these coatings solutions, Hentzen, though not the “biggest”, is recognized as one of the “best” in the industry in the markets it serves. Current Hentzen family management, 4^th generation, recognizes the unique position Hentzen holds in the industry, and is committed to utilizing it to create new and better coatings solutions to meet the increasing challenges presented by environmental awareness and sustainability.

Headquartered in Milwaukee, Wisconsin, Hentzen now serves a worldwide market with additional facilities in Illinois, South Carolina, Florida, Mexico, India, and China.

Source: Company contact, company website

Image courtesy of Hentzen.

Kansas City, MO
816/483.3400
CEO/President: Chase Bean
www.tnemec.com
2023 Coatings Sales: $129.6 million (PCI estimate)

A manufacturer of industrial and architectural protective coatings, Tnemec Company, Inc. supplies high-performance coatings and linings for water tanks, wastewater treatment plants, industrial facilities, and specialty architectural structures. In operation since 1921, the company offers over 120 products, including the StrataShield line of resinous floor and wall coatings, and Chemprobe water repellents and stains for concrete, masonry, and wood. The company has manufacturing facilities in Kansas City, Missouri; Baltimore, Maryland; Dallas, Texas; and Shanghai, China. It operates distribution facilities in Atlanta, Georgia; Dallas, Texas; Indianapolis, Indiana; New Orleans, Louisiana; Seattle, Washington; and Compton, California.

Notes: In January, 2023, the Tnemec Company launched Series 975 Aerolon, an insulative coating that contains an advanced porous material for exceptionally low thermal conductivity, offering significant advantages over traditional insulation: mitigating corrosion, condensation, and overall surface protection.
In December of 2023, the Tnemec Company released Series 108 and Series 109 ProBond, the newest epoxy penetrating sealers in the company’s family of high-performance coatings. The sealers were designed to adhere to a multitude of substrates, including old finishes, and are frequently used as an over-coating primer. Series 108 and 109 are solvent-free coatings applied at a low film thickness to reduce stress and weight on old tightly adhered coatings.

Source: Company contact, press releases, Zippia

Image courtesy of Google Maps.

Chicago, IL
773/695.5000
CEO: Chris Kempa;
CFO: Bill McGann
www.truevaluecompany.com
2023 Coatings Sales: $125 million

True Value LLC is one of the world’s largest hardware wholesale distributors. It includes approximately 4,500 independent retailer locations worldwide operating under the True Value, True Value Rental, Home & Garden Showplace, and Induserve Supply stores. True Value LLC manufactures paint brands for True Value retailers and third-party customers. Its EasyCare brand of interior and exterior paints and Majic paints are manufactured in Cary, Illinois, and distributed globally to hardware and farm/Ag retail stores.

Notes: In February of 2023, True Value Company announced the year-long celebration of its 75^th anniversary, and the continuing legacy of hometown values and building local communities. To celebrate the anniversary, the company had special sales and events throughout the year, and launched an anniversary web page.

In March of 2023, True Value unveiled new, modern upgrades to its True Value Manufacturing facility in Cary, Illinois. The launch of the new paint-filling and packaging line increased the plant’s ability to fill latex architectural paints up to 90 gallons per minute. The new technology directly supports the upcoming launch of the company’s ultra-premium paint line, EasyCare Limitless. With the ultimate washable technology, a one-coat coverage guarantee, and Scuff Armour technology, EasyCare Limitless is designed to keep interiors looking great for years.

Source: Company contact, press releases

Image courtesy of True Value.

Gainesville, TX
866/437.2864
President/CEO: Glynn Mason
www.ifscoatings.com
2023 Coatings Sales: $100-125 million

IFS Coatings is a privately owned powder coatings company that supplies innovative and sustainable thermosetting and thermoplastic powder coatings for metal and heat-sensitive substrates to industries and consumers across North America and beyond. With a focus on unparalleled service and solving customer problems, the company provides environmentally responsible powder products that deliver performance, protection, and aesthetics to the architectural, automotive, appliance, furniture, hardware, industrial, interiors, job shop, and retail markets. Brands include IFS Coatings, Polychem, and OpenThrottle. With ISO 9001:2015-certified manufacturing facilities in Texas and Oklahoma, and a network of warehouses across the United States, the company serves customers in the United States, Canada, South America, and beyond.

Source: Company contact, press releases

Image courtesy of IFS.

El Reno, OK
866/437.2864
President/CEO: Chris Hicks
www.gemini-coatings.com
2023 Coatings Sales: Over $100 million

Gemini Industries, Inc. is a dynamic manufacturer of innovative, high-quality wood finishes and coatings for interior, exterior, and real wood floor applications. Founded in 1964, Gemini has grown from a local business to an international supplier, making its mark serving distributors, manufacturers, professional wood finishers, and consumers. Gemini became 100% employee-owned in 2003 and operates an Employee Stock Ownership Plan (ESOP).

Gemini has two manufacturing plants and seven distribution facilities that provide nationwide service as well as a team offering sales and technical support. The Gemini brand family includes Gemini^® Wood Finishes, Sirca^® North America, EVO^® Eclipse, Rudd^® Wood Finishes, Glitsa^® Wood Floor Finishes, Lenmar^® Fine Wood Finishes, TWP^® Total Wood Protectant exterior wood finishes, Master’s Magic^®, and Zero Rust^®.

The brand family offers a wide range of products suitable for cabinetry, furniture, architecture and millwork, wood flooring, exterior shake, facia, decks, siding, fences, and more.

Parent Company: Gemini Industries

Notes: In May 2023, Gemini acquired substantially all of the assets of Rudd Company, Inc., an independently owned wood coatings manufacturer based in Seattle, Washington. The acquisition included the Rudd^® Wood Finishes and Glitsa^® Wood Floor Finishes product lines.

Source: Company contact

Image courtesy of Gemini.

White City, OR
866/774.7628
President/CEO: Brian Hall
www.nicindustries.com
2023 Coatings Sales: $82 million

NIC manufactures industry-leading thin film ceramic coatings, automotive coatings, and powder coatings that are distributed in nearly 90 countries around the world under the brands CERAKOTE^® and PRISMATIC POWDERS^®.

Headquartered on 18 acres in Southern Oregon, NIC operates several facilities that contain over 100,000 square feet of manufacturing space, a state-of-the-art continuous reaction inorganic polymer production plant, training facilities, robotics integration group, and a standalone research and development facility.

NIC's customer base is as wide as its geographical impact, with applications that include the aerospace, defense, sporting goods, industrial, medical, and automotive industries.

NIC Industries maintains a global network of over 2,000 certified and qualified applicators, in addition to numerous distributors and satellite training locations.

Source: Company contact

Image courtesy of NIC Industries.

Memphis, TN
90l/526.2211
President: Anthony Ward
Chairman of the Board: Derek Ward
www.farrellcalhoun.com
2023 Coatings Sales: $64.964 million

Founded by John J. Farrell and T. Finley Calhoun, Farrell-Calhoun has been supplying the Southeast and Mid-South with premium-quality paints and coatings for over 115 years. Farrell-Calhoun is a manufacturer of architectural and industrial-maintenance coatings. The company has distribution throughout the Mid-South and Southeast through 46 company-owned stores, up three since the previous year, and a network of around 138 dealers.

Source: Company contact, press releases

Image courtesy of Farrell-Calhoun.

Sheboygan, WI
800/773.7801
CEO: Paul Krueger
www.shebpaint.com
2023 Coatings Sales: $60 million

Sheboygan Paint Co. is an independent manufacturer of industrial finishing solutions. Established in 1921, the company manufactures a diverse portfolio of product lines for OEM and refinish applications, serving a variety of customers including those in the transportation, waste containers, drums and cylinders, and general metal segments.

Technologies include two-component epoxy, zinc-rich epoxy, polyurethanes, and UV/EB radiation cure, as well as conventional high-solids solvent-based, and waterborne and water-reducible coatings. Sheboygan Paint operates two manufacturing and full-service laboratory facilities in Sheboygan, Wisconsin, and Cedartown, Georgia, with distribution centers in Pennsylvania and California.

Notes: In September of 2023, Sheboygan Paint Company announced that Matt Solymossy joined the company as Environmental Health & Safety (EHS) Manager. In this role, he is responsible for the company’s compliance with all OSHA, EPA, DOT, and DNR regulations. Working closely with employees at facilities in Sheboygan, Wisconsin, and Cedartown, Georgia, he promotes a healthy, safe work environment in support of providing high-performing industrial coating solutions to customers.

Also in September of 2023, Sheboygan announced that Cynthia Baricos is Vice President of Operations. Previously the company’s Vice President of Research & Development, Baricos offers deep experience with Sheboygan Paint Company’s chemistries, manufacturing processes, data-driven decision making and Lean Six Sigma process improvement. Baricos oversees the manufacturing functions, with a goal of supporting continuous improvement and delivering top-quality industrial coating solutions to customers.

In November of 2023, Sheboygan announced that Samantha Moran was promoted to Technical Director. In this role, she directs the Research & Development Team to ensure Sheboygan Paint Company maintains its competitive advantage by developing innovative coatings solutions for customers. She oversees the work of chemists and technicians in the company’s laboratories in both Cedartown, Georgia, and Sheboygan, Wisconsin.

Source: Company contact, company website, press releases

Image courtesy of Google.

Oklahoma City, OK
405/232.2077
CEO: Joe T. Cox
Presidents: J. Kent Cox, Kirk Cox and Tony Cox
www.hispaint.com
2023 Coatings Sales: $38-40 million

Celebrating 52 years of paint production, H-I-S Paint Manufacturing is a manufacturer of architectural and industrial coatings for numerous national and global markets. The company is known for its quality architectural paints and pharmaceutical formulation capabilities in various industrial markets that require compliant technologies to perform in every condition. H-I-S currently operates out of two manufacturing facilities in Oklahoma City. Brands include Life-Kote and Master Thane within the industrial division, and Country Classic, Imperial, and Valor within the architectural division.

Source: Company website, company contact

Image courtesy of H-I-S Paint Manufacturing.

Akron, OH
800/772.3452
Chairman/CEO: David Venarge
www.apvcoatings.com
2023 Coatings Sales: $37,050,625

Founded in 1878, APV Engineered Coatings develops and manufactures innovative coating products. The company originally produced wood varnishes and enamels, most notably a unique and faster-drying black enamel for the Ford Motor Co.’s Model T. Today, APV provides coating solutions for some of the world’s top-producing manufacturers, with distribution in 26 countries. The company offers expertise in R&D, the commercialization of high-performance water- and solvent-based technologies, and contract manufacturing under private label. Its innovative solutions have been integrated into unique applications in a variety of industries, such as aerospace, industrial fabrics and textiles, tire and rubber goods, high-performance building products, and others. A licensee of Arkema Inc. in the use of Kynar^® emulsion technology, APV has been developing and commercializing high-performance PVDF resin-based coatings for field and factory applications for more than a decade. APV’s top brands include NeverFade^®, Vynguard^®, Kapguard^®, and Walkway^®.

Notes: In 2023, APV celebrating its 145^th, anniversary. The company also added to its building products offerings with BLOCKSEAL^TM, a water-based, waterproof liquid flashing that seals window and door substrates in new and existing residential, commercial, and industrial applications. It is one of the few liquid flashing products to meet and exceed AAMA AAMA 714-22, Voluntary Specification for Liquid Applied Flashing Used to Create a Water-Resistive Seal around Exterior Wall Openings in Buildings.

Source: Company contact, press releases

Image courtesy of APV Engineered Coatings.

Birmingham, AL
205/324.9584
President: Davies Hood
www.induron.com
2023 Coatings Sales: $30-$35 million

Induron Protective Coatings is a third-generation, family owned manufacturing company with deep roots in Birmingham, providing excellent products and high-quality service to the area, as well as national and international markets. Founded in Birmingham in 1947 under the name The Industrial Paint Manufacturing Co. Inc., Induron has evolved into a protective coatings business that has grown to include sales associates across the United States as well as an ever-expanding product line. Induron manufactures high-performance coatings that serve a range of industrial applications, including the wastewater; electrical transmission and distribution; and potable water storage, treatment and transmission industries.

Source: Company contact

Image courtesy of Google Maps.

Taylorsville, KY
502/212.6077
CEO & Founder: Paula Blankenship
www.allinonepaint.com
2023 Coatings Sales: $30 million

Heirloom Traditions Paint was founded in 2013 in Paula Blankenship's kitchen, originally created as a means to keep her teenage son Braden occupied after school. Blankenship was a busy commercial interior designer traveling to New York City to work on large-scale commercial design projects in the greater New York area. Blankenship took her desire to revamp her unloved pieces of furniture around her home to task and developed her own paint formula that would later become Heirloom Traditions Paint. She created a unique ALL-IN-ONE Paint formula that would help take the guesswork and confusion out of painting that contains everything in one can, and she also designed and developed a limited color palette for 36 on trend colors and prep and painting tools that allow users of any skill level to use the products successfully, without hiring professionals. The company is women-owned and an ESOP.

Parent Company: Lakestone Enterprises.

Source: Company contact

Image courtesy of Heirloom Traditions.

Rockledge, FL
800/432.0983
President/CEO: Eric Richard
www.richardspaint.com
2023 Coatings Sales: $27.68 million

Founded in 1954 by Edward and Joseph Richard, Richard’s Paint Mfg. Co. Inc. is a privately owned company that provides a full range of architectural, commercial, industrial, and specialty coatings. With 120 employees, Richard’s Paint products are sold in the United States, Bahamas, and Caribbean Islands, as well as Central America and overseas.

Source: Company contact, company website

Image courtesy of RIchard's Paint Mfg.

Brighton, MI
800/252.6516
CEO: Creighton E. Forester
www.fortechproducts.com
2023 Coatings Sales: $23 million

Fortech Products is a global manufacturer of TechKote, a series of low-VOC, water-based, high-heat, corrosion-resistant coatings, as well as its TechDraw forming lubricants, TechKool metalworking lubricants, TechKleen industrial cleaners, and TechPro rust preventives, holding various OEM approvals.

Fortech is a leading automotive industry supplier of rear axle, propshaft, power steering pump, engine pulley and damper coatings with their TechKote WA 2951 F/FE series followed by the next-generation TechKote WA FEX corrosion-resistant coatings. Fortech has since expanded its industry capabilities, moving into the commercial truck, and off-highway agricultural industries, supplying TechKote (WA 2975 R) water-based, extreme chip-resistant coatings, TechKote WB 2804D steel structural joist primer, as well as the TechKote WB 2525 series for OCTG pipe coatings. These products are fortified with superior adhesion properties that may be applied over bare steel with less-than-ideal surface preparation.

Notes: In 2023, Fortech expanded even further from the auto, commercial truck, off-highway agricultural industries, extreme chip-resistant coatings, steel structural joist primer, and OCTG pipe coatings to include the TechKote WB 2700 series for the rail car industry and the TechGrip pedestrian anti-slip product line.

In January 2023, Fortech announced that its new laboratory and updated research center was fully operational. The new state-of-the-art facility provides abundant working space for the company’s Product Development Team to maximize their talents and collaborate in cutting-edge exploration in the Lubrication and Coating Departments.

Source: Company contact, company website

Image courtsey of Fortech.