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,” 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 centres around the world, combined with Carlyle’s industrial focus and global network, position us well for the future.”
The company serves more than 120,000 customers in 130 countries and provides a full range of coating systems.
