The Sherwin-Williams Company (NYSE:SHW) signed an agreement to acquire European industrial coatings business from Sika AG (SWX:SIKA) on August 19, 2021. The acquired business will become part of The Sherwin-Williams Company's Performance Coatings Group operating segment. European Industrial Coatings Business reported total sales of CHF 75 million as of December 31, 2020.

Approximately 130 Sika employees are expected to join Sherwin-Williams. The transaction is expected to close in the beginning of 2022. Alan K. Granberg, Volker Seekamp and Jonathan Lee of EC Mergers & Acquisitions acted as M&A advisors to The Sherwin-Williams Company. Baker McKenzie act as legal advisor to Sika AG.