PPG to Acquire Coatings Application Services Provider The Crown Group

PITTSBURGH–(BUSINESS WIRE)–PPG (NYSE:PPG) today announced that it has reached a definitive
agreement to acquire The Crown Group, a U.S.-based coatings application
services business, from High Road Capital Partners and Charter Oak
Capital Partners. The transaction is expected to close in the third
quarter 2017, subject to customary closing conditions. Financial terms
were not disclosed.

Crown, headquartered in Warren, Michigan, is one of the leading
component and product finishers in North America. The company applies
coatings to customers’ manufactured parts and assembled products at 11
U.S. sites. Most of Crown’s facilities, which also provide assembly,
warehousing and sequencing services, are located at customer facilities
or positioned near customer manufacturing sites. The company serves
manufacturers in automotive, agriculture, construction, heavy truck and
alternative energy industries.

“Crown is a leader in coatings application and this acquisition will
enhance PPG’s ability to service its original equipment manufacturer
(OEM) customers,” said Viktor Sekmakas, PPG executive vice president.
“PPG continues to help customers simplify this portion of the product
finishing process, enabling them to focus on their core competencies of
product design and manufacturing. Our growing coatings application
services capability allows PPG to have a more intimate understanding of
our manufacturing customers’ coatings needs and offer enhanced,
end-to-end solutions and services.”

ABOUT THE CROWN GROUP

As a leading component finisher in North America with more than 45 years
of experience, The Crown Group is dedicated to providing high-quality,
environmentally friendly, and cost-effective solutions to the market
requirements for coatings. That same dedication applies to the other
services provided by Crown, such as assembly, warehousing, and
sequencing. With approximately 950 employees, the company is
headquartered in Warren, Michigan.

ABOUT HIGH ROAD CAPITAL PARTNERS

High Road Capital Partners is a private equity firm focused on smaller
middle market transactions. High Road was formed in 2007 and has raised
over $470 million of committed capital since inception. High Road
focuses on niche-leading companies with revenues of $10 million to $100
million and EBITDA of $3 million to $10 million. Once acquired, High
Road works in partnership with management to take the companies to the
next level through a combination of organic growth initiatives and
add-on acquisitions. www.highroadcap.com.

ABOUT CHARTER OAK EQUITY

Charter Oak Equity was founded in 2006, and together with its
predecessor funds, has invested over $500 million in over 50
transactions since 1992. Charter Oak focuses on niche manufacturing,
value-added distribution, and service companies ranging in size from $25
to $150 million enterprise value. Charter Oak targets a limited number
of transactions per year and brings the broad expertise of its team to
bear in order to create significant value for its investors. www.charteroak-equity.com.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints,
coatings and materials that our customers have trusted for more than 130
years. Through dedication and creativity, we solve our customers’
biggest challenges, collaborating closely to find the right path
forward. With headquarters in Pittsburgh, we operate and innovate in
more than 70 countries and reported net sales of $14.3 billion in 2016.
We serve customers in construction, consumer products, industrial and
transportation markets and aftermarkets. To learn more, visit www.ppg.com.

Forward-Looking Statements

Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. The forward-looking
statements contained herein include statements relating to the timing of
and expected benefits of The Crown Group acquisition. Actual events may
differ materially from current expectations and are subject to a number
of risks and uncertainties, including the satisfaction of the conditions
of the acquisition and other risks related to completion of the
acquisition and actions related thereto; the parties’ ability to
complete the acquisition on the anticipated terms and schedule,
including the ability to obtain regulatory approvals; the ability of PPG
to achieve the expected benefits of the acquisition; and the other risks
and uncertainties discussed in PPG’s periodic reports on Form 10-K and
Form 10-Q and its current reports on Form 8-K filed with the Securities
and Exchange Commission. Forward-looking statements speak only as of the
date of their initial issuance, and PPG does not undertake any
obligation to update or revise publicly any forward-looking statement,
whether as a result of new information, future events or otherwise.

We protect and beautify the world and Colorful Communities
are trademarks and the PPG Logo is a registered trademark of PPG
Industries Ohio, Inc.

Contacts

PPG
Media Contact:
Mark Silvey, +1-412-434-3046
Corporate
Communications
[email protected]
or
Investor
Contact:
John Bruno, +1-412-434-3466
Investor Relations
[email protected]
investor.ppg.com