The Carlyle Group Completes Acquisition of DuPont Performance Coatings
February 04 2013 - 7:00AM
Business Wire
Global alternative asset manager The Carlyle Group has completed
its acquisition of DuPont Performance Coatings for $4.9 billion and
announced today that the company is being renamed Axalta Coating
Systems. Axalta Coating Systems is a global supplier of coatings to
the transportation and industrial sectors. The investment was
funded primarily with equity from Carlyle Partners V and Carlyle
Europe Partners III.
“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.
Charlie Shaver, the company’s Chairman and CEO added, “We look
forward to this exciting next chapter for Axalta Coating Systems.
Our global scale with 35 plants and seven technology centers around
the world, combined with Carlyle’s industrial focus and global
network, position us well for the future.”
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 and
provides customers with a full range of coating systems.
“In addition to driving performance and excellence, one of our
greatest strengths is the systems-based approach we take with our
customers,” said John G. McCool, President of Axalta Coating
Systems. “Along with coatings, we provide customers a full spectrum
of tools and services to help them use our products effectively. We
offer customers hands-on opportunities to learn how to use these
products and applications tools in our 42 training centers
throughout the world. This capability helps our customers improve
their performance and productivity while allowing us to enhance our
offerings by gaining a better understanding of customer
preferences.”
Axalta Coating Systems develops, manufactures and sells coatings
and application tools to automobile repair body shops and original
equipment manufacturers in the automotive and heavy-duty truck
markets. Its strong market positions are supported by global brands
including Standox®, Spies Hecker®, Cromax®and Imron®. The company’s
technology leadership is highlighted by its best-in-class third
generation of waterborne systems developed to address growing
customer requirements for higher productivity and environmentally
friendly coatings. Axalta Coating Systems also serves the
decorative, architectural, general industrial and job-coater
segments of the powder coatings market under the brands Alesta®
Powder Coatings, NAP-GARD® FBE Powder Coatings and ABCITE® Powder
Coatings.
Axalta Coating Systems will continue to do business as DuPont
Performance Coatings for the next several months until the new name
is formally launched in the second quarter of 2013. The company’s
beta website AxaltaCoatingSystems.com
is under development and will enable visitors to navigate to sites
that contain information about its products and services.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $157 billion of assets under management across 101
funds and 64 fund of fund vehicles as of September 30, 2012.
Carlyle's purpose is to invest wisely and create value on behalf of
our investors, many of whom are public pensions. Carlyle invests
across four segments – Corporate Private Equity, Real Assets,
Global Market Strategies and Fund of Funds Solutions – in Africa,
Asia, Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial,
technology & business services, telecommunications & media
and transportation. The Carlyle Group employs 1,300 people in 32
offices across six continents.
www.carlyle.comwww.youtube.com/onecarlylewww.twitter.com/onecarlyle
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