Ashland to acquire Northwest Coatings for $72 million
The Associated Press reports that chemicals company Ashland Inc. has said it has agreed to buy Northwest Coatings, a maker of adhesives and coatings, for $72 million. Oak Creek, Wis.-based Northwest Coatings has production facilities in Milwaukee, and Greensboro, N.C., and posted sales of about $40 million over the past 12 months. The company was held by investment firm Caltius Equity Partners. The deal is expected to close by the end of the year, subject to regulatory approval and closing conditions.