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Wednesday, 07 July 2021 15:12

Axalta to Acquire Paint, Protective Coatings and Accessories Manufacturer U-POL

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Axalta Coating Systems, a leading global supplier of liquid and powder coatings, on July 7 announced it has entered into definitive agreements to acquire U-POL Holdings Limited from Graphite Capital Management LLP and other holders for about $590 million, subject to certain adjustments set forth in the sale and purchase agreements for the transaction.

Founded in 1948 and based in the UK, U-POL is a leading manufacturer of repair and refinish products used primarily for automotive refinish and aftermarket protective applications.

 

The business produces a wide range of high-quality automotive refinishing products and accessories including fillers, coatings, aerosols, adhesives and paint-related products as well as other automotive aftermarket protective coatings.

 

U-POL sells its products in more than 100 countries and is widely known for its leading brands, including Raptor®, Dolphin® and Gold™, among others.

 

Axalta will accelerate growth of U-POL's products by expanding market access through Axalta's existing sales and distribution channels while leveraging U-POL's distribution channels to extend the reach of its refinish coatings portfolio to new customers.

"Axalta is the world leader in the premium refinish coatings segment. U-POL's expertise in refinish accessories and protective coatings is highly complementary to Axalta's business and expands our addressable market into the important and growing mainstream and economy-based refinish segment as well as the consumer do-it-yourself (DIY) aftermarket," said Robert Bryant, Axalta's CEO. "We also see opportunities for U-POL's technology in whitespace applications for other areas of our business, including mobility and industrial coatings."

 

U-POL's talented global organization and its manufacturing plant and R&D lab in Wellingborough, England, bring important capabilities to the company's commercial, manufacturing and technology organizations, enhancing Axalta's ability to serve its customers across the globe.

 

"The two companies' cultures of innovation, quality and strong operating principles are exceptionally aligned," said Troy Weaver, Axalta's senior vice president, global refinish coatings. "We look forward to...


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