Global alternative asset manager The Carlyle Group has completed the acquisition of DuPont Performance Coatings for $4.9b. The new owners have announced that the company is being renamed Axalta Coating Systems.

The focus of Axalta Coating Systems will be as a global supplier of coatings to the transportation and industrial sectors. Martin Sumner, principal of The Carlyle Group said, “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 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.

John G. McCool, president of Axalta Coating Systems expanded on the Axalta philosophy. He commented, “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 global brand portfolio will include leading refinish paint brands, Standox, Spies Hecker and DuPont Refinish.