Lone Star Funds has announced the successful completion of the sale of AOC, a leading global specialty chemicals company, to Nippon Paint Holdings Co., Ltd.
AOC is a premier manufacturer of specialty chemical formulations, serving a diverse global customer base in various sectors, including infrastructure, construction, transportation, and recreation. With operations in North America, Europe, and Asia, AOC has established itself as a market leader.
During Lone Star’s ownership, AOC has benefited from strategic investments in innovation, operational efficiencies, and leadership team expansion. These efforts have strengthened AOC’s market position and poised it for long-term success.
“We are pleased to have worked alongside AOC’s dedicated management team, whose leadership and expertise have driven the company’s growth and innovation,” said Donald Quintin, Chief Executive Officer of Lone Star. “We are confident that AOC will continue to thrive under Nippon Paint’s ownership, leveraging its strong foundation and expertise to drive long-term shareholder value.”
The sale was announced on October 28, 2024, and was completed on March 3, 2025. Morgan Stanley & Co. LLC and Citi served as sell-side financial advisors, while Gibson, Dunn & Crutcher LLP provided legal advice to the seller.
