Carlyle Group finalises $4.9bn DuPont Performance Coatings buyout

04 February 2013 14:59  [Source: ICIS news]

Carlyle Group finalises $4.9bn DuPont Performance Coatings buyoutLONDON (ICIS)--US alternative asset manager The Carlyle Group has finalised its acquisition of DuPont Performance Coatings for $4.9 bn ($3.6bn), it said on Monday.

The acquired company, a global supplier of coatings to the transportation and industrial sectors, would be renamed Axalta Coating Systems, it added.

“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.

“As experienced investors in the industrial and transportation sectors, the One Carlyle global network can help Axalta Coating Systems grow and create value,” he added.

The purchase from DuPont was funded primarily with equity from the Carlyle Partners V and Carlyle Europe Partners III funds, The Carlyle Group said.

DuPont Performance Coatings, which has more than 11,000 employees, has been a player in the coatings industry for more than 90 years and currently serves more than 120,000 customers in 130 countries.

The company 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. It also serves the decorative, architectural, general industrial and job-coater segments of the powder coatings market.

The Carlyle Group is a global alternative asset manager which had $157bn of assets under management across 101 funds and 64 fund vehicles as of 30 September 2012.

In October last year, following the announcement that The Carlyle Group's acquisiton of DuPont Performance Coatings was in the pipeline, the European Commission said it would investigate the deal.

($1 = €0.73)


By: Will Conroy
+44 20 8652 3214



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