Sherwin-Williams Acquires Shingels to Expand Spanish Market Presence
Deal News | Mar 13, 2025 | Iberian Lawyer
Sherwin-Williams, a leading global paint and coatings producer, has acquired Spanish company Shingels, which specializes in manufacturing and selling paints, coatings, and solvents. The deal includes the acquisition of Shingels' real estate assets, enhancing Sherwin-Williams' competitive position in the Spanish market. Squire Patton Boggs' M&A team, led by Teresa Zueco, advised on the transaction, with regulatory expertise provided by Antonio Ban, Head of Energy and Public Law. The acquisition aims to bolster Sherwin-Williams' global footprint, especially in the architectural coatings sector, where the company reported revenue of $23.1 billion and an adjusted EBITDA of $4.2 billion last year.
Sectors
- Paint and Coatings
- Real Estate
Geography
- Spain – Spain is the location of Shingels, the company acquired by Sherwin-Williams. The transaction significantly influences Sherwin-Williams' operations and presence in the Spanish market.
- United States – Sherwin-Williams is headquartered in the US, and its actions in international markets, such as the acquisition of Shingels, impact its global expansion strategy.
Industry
- Paint and Coatings – This industry classification is relevant as both Sherwin-Williams and Shingels operate within the paint and coatings sector, focusing on innovation and market expansion.
- Real Estate – Real Estate is relevant due to the acquisition of Shingels' real estate assets being a part of this transaction, impacting Sherwin-Williams' operational base in Spain.
Financials
- $23.1 billion – Sherwin-Williams' reported revenue for the previous year, indicating its market strength and financial capability for acquisitions.
- $4.2 billion – Sherwin-Williams' adjusted EBITDA for the previous year, reflecting its profitability and investment capacity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sherwin-Williams | Bidding Company | Company | One of the world's largest producers of paints and coatings, aiming to bolster its market presence in Spain through strategic acquisitions. |
| Shingels | Target Company | Company | A Spanish company specializing in the manufacture and commercialization of paints, coatings, and solvents. |
| Squire Patton Boggs | Legal Advisor | Company | An international law firm advising Sherwin-Williams on the acquisition of Shingels. |
| Teresa Zueco | Partner, M&A Team | Person | Led the M&A team at Squire Patton Boggs advising on the Sherwin-Williams' acquisition. |
| Antonio Ban | Head of Energy and Public Law | Person | Advised on regulatory and environmental aspects of the acquisition transaction. |