The Carlyle Group has completed its acquisition of DuPont Performance Coatings for US$4.9bn and has announced that the company, a global supplier of coatings to the transportation and industrial sectors, is being renamed Axalta Coating Systems. 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 capitalise 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. The company serves more than 120,000 customers in 130 countries and provides customers with a full range of coating systems.