The Carlyle Group Completes Acquisition of DuPont Performance Coatings
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.