Acquisition of DuPont Performance Coatings by The Carlyle Group Completed

Excerpt

The Carlyle Group, a globally active asset management company, has completed the acquisition of DuPont Performance Coatings for $4.9 billion and has announced that the company is being renamed Axalta Coating Systems. Axalta Coating Systems is a global supplier of coatings to the transportation and industrial sectors. “We are excited to invest in Axalta Coating Systems and believe its strong market position and global footprint will enable the company to capitalize on opportunities in rapidly emerging markets such as China and Brazil. As experienced investors in the industrial and transportation sectors, the One Carlyle global network can help Axalta Coating Systems grow and create value,” said Martin Sumner, Principal of The Carlyle Group. As an independent company, Axalta Coating Systems will build on a foundation of more than 90 years in the coatings industry. The company serves more than 120,000 customers in 130 countries. Its market position is supported by global brands such as Standox, Spies Hecker, DuPont Refinish, Alesta Powder Coatings, Nap-Gard FBE and Abcite Powder Coatings. Axalta Coating Systems will continue to do business as DuPont Performance Coatings for the next few months until the new name is formally launched in the second quarter of 2013. …