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Tuesday, May 21, 2024

BDA Provides Advice to Sherwin-Williams for the Sale of its China Architecture Paint Business to AkzoNobel

BDA Partners, a global investment banking advisor for Asia, has facilitated the successful completion of the divestment of The Sherwin-Williams Company’s China architecture paint business, known as Huarun, to Akzo Nobel NV.

The divestment of Huarun to Akzo Nobel NV marks a significant achievement for all parties involved. Huarun, one of the leading decorative paints in China, has a strong legacy and is deeply rooted in the country’s paints industry. The business, which was originally founded in Shunde, Guangdong province, has a strong presence in retail and project channels nationwide. Having been acquired by The Valspar Corporation in 2006 and subsequently becoming a part of Sherwin-Williams in 2017, the divestment of the Huarun business is a strategic move by Sherwin-Williams to optimize its business portfolio across the world.

BDA Partners acted as the exclusive financial advisor to Sherwin-Williams on this transaction, delivering a strong outcome for the company. Jeffrey Wang, Partner and Co-Head of BDA Shanghai, expressed his pleasure in assisting Sherwin-Williams and highlighted the significance of the transaction in optimizing the company’s business portfolio. He also emphasized BDA’s leading role as an advisor on multinational corporate carve-outs in China and the rest of Asia.

Established in 1866, The Sherwin-Williams Company is a global leader in the coating industry with a presence in over 120 countries and a workforce of more than 61,000 employees. The company is engaged in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers.

On the other hand, Akzo Nobel NV, founded in 1646 and headquartered in Amsterdam, is one of the largest paint manufacturers in the world. It produces and sells paints and coatings under various brands, including AkzoNobel, Dulux, and Levis, across the globe.

BDA Partners, with over 25 years of experience, is a premium provider of Asia-related advice to sophisticated clients globally. The investment banking advisor has offices in New York and London, as well as in seven Asian cities, and specializes in providing cross-border M&A, capital raising, and financial restructuring services across various sectors such as Chemicals, Consumer & Retail, Health, Industrials, Services, and Technology.

BDA Partners also has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with significant assets. It operates as a broker-dealer registered with the Securities and Exchange Commission (SEC) in the US and is authorized and regulated by the Financial Conduct Authority (FCA) in the UK. In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct regulated activities to professional investors.

The completion of the divestment of Huarun by Sherwin-Williams to Akzo Nobel NV signifies a significant milestone in the global coatings industry and is a testament to the strategic advisory capabilities of BDA Partners. It also demonstrates a positive outlook for the future of Huarun under its new ownership.

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