Axalta Coating Systems Acquires U-POL
July 12, 2021—Axalta Coating Systems has entered into definitive agreements to acquire U-POL Holdings Limited for $590 million.
Founded in 1948 and based in the United Kingdom, U-POL 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.
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.
“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. We also see opportunities for U-POL’s technology in whitespace applications for other areas of our business, including Mobility and Industrial Coatings,” said Robert Bryant, CEO of Axalta.
The transaction is expected to close in the second half of 2021.