July 12, 2021 — Axalta Coating Systems has entered into definitive agreements to acquire U-POL Holdings Limited for $ 590 million.
Founded in 1948 and headquartered in the UK, U-POL manufactures a wide range of high quality automotive refinishing and accessory products including sealants, coatings, aerosols, adhesives and paint related products, as well as other automotive aftermarket protective coatings.
Axalta will accelerate U-POL’s product growth by expanding market access through Axalta’s existing sales and distribution channels while leveraging U-POL’s distribution channels to expand the reach of its portfolio from topcoats to new customers.
“U-POL’s expertise in finishing accessories and protective coatings is very complementary to Axalta’s business and extends our addressable market to the large and growing segment of consumer and economy refinishing, as well as the market. secondary of DIY. We also see opportunities for U-POL’s technology in white space applications for other areas of our business, including mobility and industrial coatings, ”said Robert Bryant, CEO of Axalta.
The transaction is expected to be finalized in the second half of 2021.