Latest news with #coatings
Yahoo
a day ago
- Business
- Yahoo
The Sterling Group Foundation Fund Launches a New Platform, AGS American Glass Services
DALLAS, July 24, 2025--(BUSINESS WIRE)--The Sterling Group Foundation Fund (the "Foundation Fund"), an operationally focused lower middle market private equity firm, announced the establishment of AGS American Glass Services ("AGS"), a multi-regional provider of custom glass and coatings solutions with operations across the Midwest. AGS provides light, value-added fabrication and installation (glazing) of interior and exterior commercial glass systems, along with a range of specialty coating services for both interior and exterior applications. AGS is focused on building types that are "below the tree line" across a diverse set of end-markets including education, manufacturing, government, office, and retail, among others. AGS will seek to acquire businesses with market-leading customer service models in adjacent markets. "We're excited to launch AGS American Glass Services as a new platform dedicated to building a market-leading commercial glazing business. With a strong foundation of operational excellence and customer relationships, we see a significant opportunity to scale this platform nationally and partner with talented teams across the industry," said Partner Lucas Cutler. The Sterling Group has deep experience in the building products industry. AGS is a portfolio company of the Foundation Fund. The Foundation Fund aims to leverage The Sterling Group's operational capabilities and experience in the industrial sector to "set the foundation" for growth at lower middle market companies. Other Foundation Fund portfolio companies include Premier Tire and Service, Compost 360, Russell Landscaping, and OGD Overhead Garage Door. About The Sterling Group Foundation Fund Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of over 70 platform companies and numerous add-on acquisitions for a total transaction value of over $24 billion. Sterling currently has over $9 billion of assets under management. For further information, please visit Past performance is no guarantee of future results and all investments are subject to loss. View source version on Contacts The Sterling GroupFranny Jonesfjones@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Sherwin-Williams Cuts Its Outlook as Soft Demand and Costs Hurt Profits
Justin Sullivan / Staff / Getty Images Sherwin-Williams CEO Heidi Petz warned that the company expects the slowdown in the second quarter could continue into the second half of the year. Sherwin-Williams (SHW) shares declined Tuesday after the maker of paints and coatings missed profit forecasts and cut its outlook on soft demand and higher costs. The company reported second-quarter adjusted earnings per share of $3.38, down 8.6% from a year ago and below the consensus of analysts surveyed by Visible Alpha. Revenue rose 0.7% to $6.31 billion, which was ahead of estimates. Sales at the company's Performance Coatings Group dropped 0.3% to $1.80 billion, mainly on lower prices. They were down 4.1% to $809.4 million at the Consumer Brands Group because of a drop in do-it-yourself work demand and currency fluctuations. Higher prices helped Paint Store Group sales rise 2.3% to $3.70 billion. Selling, General, & Administrative expenses grew 9% to $2.01 billion, which the company blamed on a 'broader restructuring initiative related to softer demand, sooner than anticipated building related costs and heightened growth investment related to incremental competitive opportunities.' CEO Heidi Petz said the demand environment 'remained choppy,' and warned that the company expects the slowdown in the quarter 'will continue if not deteriorate in the second half of the year.' Sherwin-Williams said it now sees full-year adjusted EPS in the range of $11.20 to $11.50, compared to its earlier outlook of $11.65 to $12.05. Shares of Sherwin-Williams were down about 3% in recent trading, dragging them into negative territory for the year. TradingView Read the original article on Investopedia
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
Sherwin-Williams Revises 2025 Outlook Amid Continued Soft Demand
Sherwin-Williams SHW 0.36%increase; green up pointing triangle revised its outlook for 2025 as soft demand seen in the first half of the year is expected to persist and potentially weaken further in the months ahead. The paint and coatings company now expects sales in the year to be up or down a low-single digit percentage compared with 2024. It had previously forecast sales in 2025 to be up a low-single-digit percentage.
Al Bawaba
3 days ago
- Business
- Al Bawaba
Caparol Paints strengthens regional footprint following significant sales growth in the Middle East
Caparol Paints, a global leader in premium paint and coatings solutions, is accelerating its growth across the Middle East with a stronger focus on retail expansion, double-digit partner growth, and the launch of new product lines tailored to the Middle East. Since entering the UAE market in 1998, Caparol has steadily built its reputation as a go-to brand for high-performance, sustainable coatings, backed by German innovation and local-market solutions. Over the past 12 months, Caparol has significantly expanded its retail network across the UAE and wider region, offering professionals and homeowners greater access to its range of interior and exterior paints. This expansion follows a 35% year-on-year sales increase in 2024, supported by high uptake of its flagship products for interior and exterior paints, including CapaStone, Caparol's innovative façade solution. Designed to perform in the region's demanding climate, Caparol's product portfolio reflects its commitment to sustainable, locally relevant solutions. Manufactured in its Dubai-based facility, the range addresses the growing demand for long-lasting, climate-adapted finishes across residential and commercial projects. Its low-VOC, weather-resistant, and design-forward solutions are widely trusted by contractors, architects, and designers across the region.'The Middle East is a priority region for Caparol, and we are committed to growing our presence across the region, to serve both existing and future customers,' said Dirk Schilmöller, Managing Director Middle East, Africa & Asia. 'With the regional paints and coatings market projected to reach over USD 8.5 billion by 2035, fuelled by a booming real estate sector and rising population, the opportunity ahead is significant. We see enormous potential, not only in offering high-quality paint systems, but in long-term durability, energy efficiency and healthier indoor environments. Caparol will continue investing in innovative, high-performance solutions that meet the evolving needs of our partners and communities.'Caparol has also doubled its Exterior Insulation and Finish System (EIFS) business over the last two years, reflecting a growing regional focus on energy-efficient and thermally insulated building solutions. This reinforces the company's commitment to supporting high-performance, sustainable construction growing project portfolio in the UAE includes high-profile residential, hospitality and commercial developments. The brand has also deepened its support for industry professionals by investing in training, colour consultancy, and technical services to ensure projects are executed to the highest standard. With the UAE's continued push for sustainable urban development under Vision 2031, Caparol is reinforcing its role as a long-term partner to the region's architecture, design and construction sectors.
Reuters
3 days ago
- Business
- Reuters
Akzo Nobel eyes decorative paint disposals in Asia after $1.6 bln India unit sale
July 22 (Reuters) - Dulux paints maker Akzo Nobel ( opens new tab plans to focus on its business-to-business offering in Asia during the next phase of its portfolio review, after the $1.6 billion sale of its India unit in June, its chief executive said on Tuesday. It will do this by increasing investments in coatings while selling off some decorative paints units in the region, CEO Greg Poux-Guillaume told Reuters. Performance coatings made up 62% of the group's adjusted core earnings in 2024. "Our aim is to be a market leader in everything that we do, and wherever we're not, we have to reassess," Poux-Guillaume said. Akzo Nobel, which sells decorative paints to consumers and professionals and specialised coatings used by many industries, had launched the first phase of the review in South Asia in October 2024. At the time, it called the region "ripe for consolidation" and said it would explore options including partnerships, joint ventures, mergers and divestitures. It now intends to apply the strategic framework used in India to other businesses and assets across Asia, with a focus on disposals rather than acquisitions, Poux-Guillaume told analysts in a post-earnings call. Asked about a recent Bloomberg News report that Akzo Nobel was considering the acquisition of BASF's ( opens new tab coatings arm, he said it had not committed to any such process. "We don't have the balance sheet for it ... and also we don't need the distraction at this point," Poux-Guillaume said. "BASF is looking for a cash transaction, and this is not something that we'll do." The sale of Akzo Nobel's liquid coatings business in India to JSW included a clause that it would retain the Dulux intellectual property and continue as the product's technology provider in the country, receiving a royalty of 4.5% of sales. Poux-Guillaume said future disposals were unlikely to include such agreements, as the entities under consideration were wholly owned by Akzo Nobel and not publicly listed.
