WASHINGTON, DC – Global alternative asset manager The Carlyle Group L.P. has completed its acquisition of paint and coatings manufacturer DuPont Performance Coatings for $4.9 billion. The company is being renamed Axalta Coating Systems. The investment was funded primarily with equity from Carlyle Partners V and Carlyle Europe Partners III in a deal that was announced last August.
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. Global brands include Standox®, Spies Hecker®, Cromax® and Imron®. The company 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.
The Carlyle Group 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 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.