Hempel Reveals $1.2 Billion Ready for Deals to Double Its Size
Employees use forklifts to move finished pallets of coatings from the production line inside the Hempel A/S coatings manufacturing facility in Buk, Poland, on Tuesday, July 5, 2016.
Photographer: Bartek Sadowski/Bloomberg
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Hempel A/S wants to double its size in less than half a decade and plans to buy smaller rivals to help it achieve that goal.
The closely held Danish maker of the Crown household paint is in talks with targets and has about 1 billion euros ($1.2 billion) in funds and banking facilities available to spend, Chief Executive Officer Lars Petersson said in an interview. The company will use that added scale to help it supply clients such as Vestas Wind Systems A/S and home-improvement chain B&Q.