Axalta Coating Systems to be New Company Name
WASHINGTON--(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.com
www.youtube.com/onecarlyle
www.twitter.com/onecarlyle
For The Carlyle Group
Liz Gill, +1-202-729-5385
elizabeth.gill@carlyle.com
or
For
Axalta Coating Systems
Matthew N. Winokur, +1-917-442-8780
matthew.winokur@ogilvy.com
Source: The Carlyle Group
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