2 August 2023

BDA advises Sherwin-Williams on sale of China architecture paint business to AkzoNobel

divested China architectural paint business to

　

2023

BDA Partners is pleased to announce that its client, The Sherwin-Williams Company (NYSE: SHW), has completed the divestment of its China architecture paint business, under the brand name Huarun in China, to global coatings company Akzo Nobel NV (ENXTAM:AKZA). 

The business is one of the leading decorative paints originally from Shunde, Guangdong province, known as the “hometown of paints” in China. Founded in 1990, Huarun is a legacy brand, deeply rooted in the Chinese paints industry, across retail and project channels nationwide. The business was acquired by The Valspar Corporation in 2006 and became part of Sherwin-Williams when it acquired Valspar in 2017.

BDA acted as exclusive financial advisor to Sherwin-Williams on the transaction.  

Jeffrey Wang, Partner, Co-Head of BDA Shanghai, said: “We’re pleased to deliver a strong outcome for Sherwin Williams, a repeat BDA client, to help optimize its business portfolio across the world. We look forward to the continued success of the Huarun business under its new ownership. This transaction demonstrates BDA’s leading role as an advisor on multinational corporate carve-outs in China and the rest of Asia.”

Deal team

About Sherwin-Williams

The Sherwin-Williams Company (NYSE: SHW) is the global leader in the coating industry with 61,000+ employees and business in 120+ countries. Founded in 1866, and headquartered in Cleveland, Ohio, Sherwin-Williams engages in the manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. www.sherwin-williams.com

About Akzo Nobel NV

Akzo Nobel NV (ENXTAM:AKZA) is one of the largest paint manufacturer in the world. Founded in 1646 and headquartered in Amsterdam, the Netherlands, Akzo Nobel engages in the production and sale of paints and coatings worldwide. It offers its products primarily under AkzoNobel, Dulux, Levis, etc. www.akzonobel.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners 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 US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com

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