MINNEAPOLIS - The Valspar Corp., a leading global manufacturer of paints and coatings, announced a definitive agreement to acquire Inver Holding S.r.l. (Inver Group), an industrial coatings manufacturer in Europe. The transaction is expected to close in the fiscal fourth quarter, subject to regulatory approval and customary closing conditions. Financial terms were not disclosed.

Inver Group is headquartered in Bologna, Italy, and specializes in liquid and powder coatings products as well as resins that are used in a variety of industrial applications including off-road equipment, auto and off-road parts, architectural aluminum windows, railways, and trams. Owned by the Domenichini family for three generations, the company serves customers primarily in Italy, the UK, France, Germany and Poland.