Proposed Rockwood paint deal gets green light

South Africa’s Competition Commission has approved the proposed transaction whereby private equity fund manager Rockwood intends to acquire Prominent Paints, with conditions.

Prominent Paints is a manufacturer, wholesaler and retailer of decorative and industrial coatings in South Africa, and has developed brands such as Primalex, Neutron, Evolve and Sherwood. Prominent Paints has one factory, one warehouse and 12 paint stores in South Africa.