Axalta Finalizes Acquisition of The CoverFlexx Group

Axalta Coating Systems (NYSE: AXTA), a prominent player in the global coatings sector, has finalized the acquisition of The CoverFlexx Group from Transtar Holding Company, marking a significant strategic move. The CoverFlexx Group specializes in the production and distribution of coatings tailored for automotive refinish and aftermarket segments, with a targeted focus on economy customers across North America. This acquisition enhances Axalta's portfolio by integrating CoverFlexx's expertise and market presence, strengthening its position in serving diverse customer needs within the automotive coatings industry. Axalta aims to leverage synergies from this acquisition to expand its market reach and deliver enhanced value to its clientele.

Chris Villavarayan, Axalta’s Chief Executive Officer and President, emphasized the strategic significance of acquiring The CoverFlexx Group, enhancing Axalta's comprehensive offerings in Refinish coatings. He reiterated that this acquisition aligns with Axalta's strategic focus, as outlined during their recent Strategy Day, to invest in expanding their Refinish business. Villavarayan underscored that advancing in this sector is a top priority for Axalta, and the acquisition of The CoverFlexx Group represents a significant step towards achieving their growth objectives in this key area of their operations.

Troy Weaver, Axalta’s President of Global Refinish, expressed excitement about welcoming the new team members from The CoverFlexx Group into Axalta. He highlighted their commitment to ensuring a seamless integration process while maintaining focus on meeting existing commitments. Weaver emphasized his anticipation for collaborative efforts to drive growth within the Refinish business, underscoring his confidence in the collective potential to achieve significant milestones together.

The CoverFlexx Group provides an extensive array of automotive coatings including primers, basecoats, clearcoats, aerosols, fillers, bedliners, detailing products, and paint shop accessories. Renowned brands under its umbrella include Transtar® Autobody Technologies, Pro-Form™, and Aftermkt Armor™ products. The company operates manufacturing and product development facilities in Brighton, Michigan, and Milton, Ontario, underscoring its commitment to innovation and quality in serving the automotive refinish and aftermarket sectors across North America. This robust product offering and strategic footprint enable The CoverFlexx Group to meet diverse customer needs while maintaining high standards of performance and reliability in the industry.

Axalta, a leading global player in the coatings market, delivers advanced and sustainable solutions for a wide range of applications. From light vehicles and commercial fleets to refinishing, electric vehicles, construction, and industrial uses, Axalta's coatings portfolio provides superior corrosion resistance, enhanced productivity, and extended lifespans. Backed by over 150 years of industry experience, Axalta's global team is dedicated to exceptional customer service, supporting over 100,000 clients in 140+ countries. With a focus on continuous innovation, Axalta sets the benchmark for coatings performance and customer satisfaction worldwide.