Olympus Paints the Corner with Ennis-Flint Sale to PPG
Olympus Partners has agreed to sell Ennis-Flint, a leader in pavement markings and traffic safety solutions, to PPG (NYSE: PPG).
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Olympus Partners has agreed to sell Ennis-Flint, a leader in pavement markings and traffic safety solutions, to PPG (NYSE: PPG). Under Olympus' ownership since June 2016, Ennis-Flint completed six acquisitions and opened new manufacturing facilities across North America, Europe, and Australia, employing nearly 1,000 team members. Executives from both companies praised their partnership, highlighting the significant growth and support provided during the acquisition phase.
Positive
- Ennis-Flint has expanded significantly with six acquisitions under Olympus' ownership.
- New manufacturing facilities have been established across multiple regions, indicating growth potential.
- Ennis-Flint employs nearly 1,000 team members, reflecting a strong workforce.
Negative
- None.
Details
News Market Reaction – PPG
The recorded move for PPG in the trading session of this news was -0.68%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
STAMFORD, Conn., Nov. 30, 2020 /PRNewswire/ -- Olympus Partners is pleased to announce it has agreed to sell Ennis-Flint to PPG (NYSE:PPG). Ennis-Flint is a world leader in pavement markings and traffic safety solutions.
Under Olympus' ownership since June 2016, Ennis-Flint has made six acquisitions. The company has also added several new manufacturing facilities across North America, Europe and Australia. Ennis-Flint employs nearly 1,000 team members.
Dave Cardenas, partner at Olympus, commented: "We are very happy for the Ennis-Flint organization to have found a logical home with PPG and are deeply appreciative of the partnership on both a personal and professional level. It is a privilege to work with such an outstanding management team. We look forward to seeing what our friends at Ennis-Flint can do with the support of PPG behind them."
"Ennis-Flint has thoroughly enjoyed having Olympus Partners as our financial sponsor, strategic sounding board, and trusted advisor for the past four years. Their support for growth both through internal capital projects as well as acquisitions has been critical to our success," said Matt Soule, chief executive officer of Ennis-Flint.
The Olympus team included Dave Cardenas, Matt Boyd, Sam Greenberg and Matt Bujor. Olympus was advised by Patrick McNulty and John Lautemann from Harris Williams. In addition, Olympus was represented by Benjamin Clinger and Matt Goulding from Kirkland & Ellis LLP.
ABOUT OLYMPUS PARTNERS
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus manages in excess of
View original content:http://www.prnewswire.com/news-releases/olympus-paints-the-corner-with-ennis-flint-sale-to-ppg-301181597.html
SOURCE Olympus Partners
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.