All rights reserved. The company, formerly a unit of DuPont, would complement Akzo’s product lines, Michael J. Harrison, an analyst at Seaport Global Securities, said in a note. Opportunities in innovation: With companies planning for a recovery from the pandemic, they will continue to invest in additive manufacturing, digital factory, digital supply chain solutions and technologies related to sustainability. Among its arguments against a takeover by PPG, the Dutch paintmaker said that the deal would be difficult to get passed competition authorities. Axalta Coating Systems is the leading provider of innovative products, services, and solutions designed to improve the efficiency and effectiveness of the vehicle refinish process. In attempting a merger of equals deal with Axalta, Akzo might try to keep its headquarters in Amsterdam and research centers spread across the Netherlands. On Your Coatings Radar – California Lead Litigation Marathon Over On Your Coatings Radar – Axalta Once Again Enters the Acquisition Rumor Mill PPG ultimately declined to make a hostile takeover bid for AkzoNobel. The news comes three months after reports emerged that the Philadelphia-based Axalta was looking … Reuters reported Downtown-based PPG could partner with private equity firm Clayton, Dubilier & Rice to acquire Warren Buffett-backed Axalta. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. Importantly, the shift is being driven not only by environmental regulations but also economics given the higher productivity of waterborne coatings. Axalta Coating Systems is an American company specializing in coatings in a wide variety of industrial applications, materials and sectors, such as for example automotive paints. Read employee reviews and ratings on Glassdoor to decide if Axalta is right for you. She will lead our current Industrial Coatings businesses globally, which include energy solutions, coil, wood, general industrial and powder coatings, and drive expansion into new industrial coatings markets," said Robert W. Bryant, Axalta's President and CEO. View the latest Axalta Coating Systems Ltd. (AXTA) stock price, news, historical charts, analyst ratings and financial information from WSJ. Bausch joins Axalta from the Carlisle Companies Inc., a manufacturer of engineered products used in roofing, architectural metal, aerospace, medical technologies, industrial, transportation, refinish, and agriculture, mining and construction equipment markets, where she has worked since 2017. PPG offers paint color services and support to designers, painters, and architects. SPACs have allowed development-stage companies quick access to capital to scale operations. The U.S. coatings manufacturer is the “ideal poison pill” that would make AkzoNobel “undigestable” for PPG, ING analyst Stijn Demeester said in a note, adding that any deal would have to overcome some hurdles in the companies’ valuations. Pros. Future of capital: 2020 was the year of SPACs, a driving force for M&A activity with more than 50% of all IPOs in the U.S. this year represented by SPAC IPOs. The discussion on the merger followed AkzoNobel’s rebuffing of an unsolicited merger offer from PPG Industries earlier in 2017. Axalta shares fell $0.51 or 1.69% Monday to $29.64. Manufacturing M&A began rebounding in Q3 2020, but dealmaking cooled off in Q4 2020 as COVID-19 started resurging across the U.S., Europe and Asia. AkzoNobel, Sherwin-Williams, PPG, Axalta and BASF are the major manufacturer of antimicrobial coating. In early March, companies in the U.S. tried to get a handle on the financial impact of the pandemic, with 62% implementing cost-containment measures. Axalta Coating Systems is a coatings company headquartered in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. Axalta was seen as a possible target earlier this year. Axalta's LTM revenue dropped 3.3%, while operating income increased by 4.14%. By mid-June, this figure jumped to 81%. It is forecast that silver biocides based antimicrobial coating will remain the … For more information, visit axalta.com and follow us @axalta on Twitter. Clayton, Dubilier & Rice is considering a partnership with paint & coatings supplier PPG Industries to bid for Berkshire Hathaway-backed Axalta Coating Systems, per Reuters.CD&R and PPG could reportedly also bring on investors including BlackRock and GIC to form a consortium for the bid. ... Division has been sold and it doesnt exists any more . Akzo Nobel NV is exploring a combination with the biggest maker of car coatings, almost doubling the size of its paint business in a bid to create a deterrent should PPG Industries Inc. attempt another takeover as early as December. The P/E ratio of Axalta Coating Systems is 70.75, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.94. Axalta rebuffed acquisition approaches in … Sold by DuPont in 2013, Axalta supplies spray paint and metal treatments for automotive chassis. More recently, it was rumored that PPG was interested in acquiring the company, but nothing has come of it. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 130 countries better every day with the finest coatings, application systems and technology. Prior to the pandemic, companies were already considering ways they could diversify and lower their supply chain costs, and COVID-19 accelerated the need to do so. Representatives for Axalta and PPG Industries declined to comment. SPACs have no commercial operations and are designed specially to raise money through initial public offerings (IPOs) to buy another company. Contact. The bid would come three months after Axalta said it would explore a sale. Profitable industrial companies such as Axalta are typically sold at premium prices, encouraging investors who hanker for a piece of the action. Global Paint Color Trends. The company reported net sales of $4.1 billion last year and employs about 13,000 people. AkzoNobel shares rose 0.6% to 77.92 euros ($90.65) at 12:16 p.m. in Amsterdam, taking gains to 31% this year and giving a market value of 20 billion euros ($23.27 billion). A tie-up between Axalta and Akzo is “logical” given the rapidly consolidating coatings industry, Ghansham Panjabi, an analyst at Robert W. Baird & Co., said in a note about the latest move. Shares in paintings and coatings company Axalta Coating Systems fell 13.5% in February, according to data provided by S&P Global Market Intelligence. Contact the source provider Comtex at editorial@comtex.com. This led to AkzoNobel announcing in April 2017 that it was considering either demerging the specialty chemicals business, or selling it, to appease activist investors. In 2017, Axalta was in merger talks with AkzoNobel and Nippon Paints. Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. More recently, it was rumored that PPG was interested in acquiring the company, but nothing has come of it. According to a Reuters' story buyout firm Clayton, Dubilier & Rice LLC is in talks to partner with PPG Industries Inc to make an acquisition offer for Axalta Coating Systems Inc.. You can also contact MarketWatch Customer Service via our Customer Center. Axalta could still decide not to sell itself and remain independent. Axalta is big in automotive coatings and competes with PPG in this area, while Akzo has more focus on interior coatings. Governmental changes paired with COVID-19 resurgence could make capital markets more volatile, which would be unfavorable for dealmaking. Increased SPAC activity will continue in 2021 with areas such as EV-charging infrastructure, power storage and 3D printing. Preparations are underway for either a spinoff or outright sale of the entire business, CEO Thierry Vanlancker said this month. 2020 Was the Year of Grit. The surprise departure was followed by that of the company’s finance chief, who also left for health reasons. | Singular focus on providing brilliant coatings sets us apart. According to Reuters, PPG Industries has partnered with private equity investor Clayton, Dubilier & Rice to consider acquiring Axalta Coating Systems. What We Know About the UK, EU Post-Brexit Trade Pact, Manufacturers Express Increased Optimism in Q4 NAM Survey, Tumult and Progress: The Impossible Success of an Impossible Year. A representative for Kansai Paint didn’t immediately respond to a request for comment left outside of regular business hours. Axalta and PPG are global leaders in waterborne coatings (water replaces oil-derived solvents as the liquefying agent), which have been taking share in Europe, North America and Asia. PPG is one of the only automotive refinishing supply companies able to provide any type of automotive coating for body shops. Last edited: Sep 22, 2019. Indeed, PPG is reportedly looking at making an offer, and Akzo Nobel and Axalta previously discussed a merger in 2017, while private equity firms … The most significant drop-offs in M&A activity were experienced when the pandemic took full effect in Q2 2020, with a 63% decline in deal value and 36% decline in deal volume, when compared to Q1 2020. Axalta's share price … Indeed, PPG is reportedly looking at making an offer, and Akzo Nobel and Axalta previously discussed a merger in 2017, while private equity firms are also believed to be circling the company. PHILADELPHIA, Dec. 2, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA) today announced that Shelley Bausch is joining Axalta as … Axalta, based in Philadelphia, makes automobile paints and coatings for auto parts. Where Do Color Trends Come From? The MarketWatch News Department was not involved in the creation of this content. In February 2013, DuPont Performance Coatings was sold to the Carlyle Group and rebranded as Axalta Coating Systems LVP Paints is able to formulate paint to match Axalta Powder Coating colors for touch up application to prevent rust and to make scratches, hook marks, light spots, and items that can't be powder coating look new. Deal activity was also impacted. PPG offers paint color services and support to designers, painters, and architects. Axalta has a phenomenal Cash Return on Equity; nevertheless, with debt factored in, its CROTC is just 10.4%. At Carlisle, she has led the Asia Pacific region and the Fluid Technologies business unit. "Axalta's Industrial business has made significant strides in the past several years, and I look forward to joining a great team for the challenge of taking it to the next level and continuing to make it a major growth engine for the Company," said Bausch. Axalta, based in Philadelphia, makes automobile paints and coatings for auto parts. AkzoNobel successfully rebuffed an unsolicited $29 billion buyout offer this year, coming under intense shareholder pressure in the process from activist investor Elliott Management Corp., which had pushed for tie-up talks. http://www.prnewswire.com/news-releases/axalta-coating-systems-announces-shelley-bausch-to-lead-global-industrial-coatings-business-301183109.html, These electric trucks are coming soon—here’s prices, how far they’ll go and how much they’ll tow, Chris Sacca mocks ‘Robinhood bros’ who spurn his investment advice: ‘Stonks never go down!’, The latest estimate of when Social Security will run out of money, Value or growth stocks? previous chevron_left Next chevron_right. previous chevron_left Next chevron_right. DuPont Performance Coatings, rooted in the dawn of the Automobile Age, now sports a new name after the completion of its $4.9 billion sale to The Carlyle Group on Feb. 1, the companies announced Monday (Feb. 4).. Copyright © 2020 MarketWatch, Inc. All rights reserved. Axalta Coating Systems in the UK are a leading manufacturer of industrial coatings of which Industrial Coatings Ltd are proud to be a select distributor for their products. Where Do Color Trends Come From? Shifting industry paths: As the pandemic forced shutdowns across the world, overall consumer spending and travel plummeted, leading to a softening of many industries. Before Carlisle, Bausch led the Industrial Coatings business for PPG from 2014 to 2017 and spent 25 years at Dow Corning Corporation in a variety of senior management and commercial roles. John Deere Reports Improving Markets in Positive Fourth Quarter Results, Bayer Battered by Further Roundup Costs, Brazilian Currency Depreciation, Ford Reports Strong Third Quarter as Demand for Trucks and SUVs Picks Up Again, 46% decline and 21% decline in deal volume, deal value and deal volume declined by a significant 40% and 28%, Webinar: Manufacturing 2021 - 4 Industry Trends to Watch and 3 Smart Moves to Make, Back to the Future: 7 Developments Shaping Automotive in 2021 and Beyond. ... PPG. Price to Earnings Ratio vs. the Market. If you don't allow cookies, you may not be able to use certain features of the web site including but not limited to: log in, buy products, see personalized content, switch between site cultures. Learn More. Its corporate headquarters is located in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. The founding father of the automotive paint business is being laid to rest. The P/E ratio of Axalta Coating Systems is 70.75, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.94. The firm does business in 130 countries, has nearly 13,000 employees, and has more than 100,000 customers. Learn More. Citing people with knowledge of the matter, Reuters said joining forces with the buyout firm would enable PPG to get around any regulatory concerns which could be raised by an acquisition. It is forecast that silver biocides based antimicrobial coating will remain the … It has been sold to PPG and Akzo Nobel both are paint companies . A behind-the-scenes look at how we created the 2019 Color Trends. The move to combine with Axalta comes as the clock counts down to Dec. 1, when Akzo Nobel’s rival-turned-suitor PPG could make another run for the company under Dutch takeover rules. But share prices for the company, sold by the DuPont Co. to Carlyle Group in 2013 and resold on the stock market the next year at a fat mark-up, have remained around $30, same as a week ago and well within the range that Axalta established in 2014-15, its first year as a public company. Cons. “We think Akzo shareholders would vote on a merger of equals,” they said, adding that there could be some antitrust scrutiny into the effects of a deal in some industrial applications and especially in auto refinishings. In 2017, Axalta and AkzoNobel explored a potential merger of the two global coatings companies. Axalta Invests in Landshut, Germany, Facility for Bonded Metallic Powder Coatings PPG to Acquire Specialty Materials Manufacturer Dexmet Corporation STOCKMEIER Takes Over 100% of Quaron S.A.S. Earnings for Axalta Coating Systems are expected to grow by 47.90% in the coming year, from $1.19 to $1.76 per share. Your Passion. Glassdoor. COVID-19 has disrupted dealmaking, from scenario planning to investing, and preparing for a previously envisioned future, but deal activity in the first half of 2021 will continue to recover from sector lows seen during the peak of the crisis. Reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. Sep 22, 2019 ... Standox has gotten stupid expensive since Dupont sold out to Axalta. Axalta Coating Systems is the leading provider of innovative products, services, and solutions designed to improve the efficiency and effectiveness of the vehicle refinish process. In February 2013, DuPont Performance Coatings was sold to the Carlyle Group and rebranded as Axalta Coating Systems LVP Paints is able to formulate paint to match Axalta Powder Coating colors for touch up application to prevent rust and to make scratches, hook marks, light spots, and items that can't be powder coating look new. "I want to thank Dave Heflin for the strong results achieved during his interim stewardship of the Industrial portfolio, and I look forward to working with him as he continues to drive excellent results in our global liquid industrial business," continued Bryant. She is a valuable addition to our team, and I'm confident she will drive growth in our existing as well as new end-markets.". The following drivers will help support a resurgence in manufacturing M&A activity: Changing political landscape: With the transition to a Biden administration, governmental regulation, higher income tax rates and a softened position on trade may be on the horizon. ICI other divison dont have much knowledge. Paint Store Locator. In order to provide complete functionality, this web site needs your explicit consent to store browser cookies. Axalta shares jumped 14 percent on the news to $29.52 a share, giving the company a market capitalization of about $7 billion. Reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. The founding father of the automotive paint business is being laid to rest. Select a brand to browse the product catalog, or sign in if you are a registered distributor. Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a market value of $8.1 billion. AkzoNobel successfully rebuffed an unsolicited $29 billion buyout offer this year, coming under intense shareholder pressure in the process from activist investor Elliott Management Corp., which had pushed for tie-up talks. Businesses and supply chains took a major hit, and moving forward, they must become smarter and more agile. PHILADELPHIA, Dec. 2, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA) today announced that Shelley Bausch is joining Axalta as … Our Coatings. The deal would combine the third- and fourth-ranked coatings manufacturers in a market that remains relatively fragmented, according to Bernstein analysts including Jeremy Redenius, who said it would make sense. Axalta may sell for $40 a share, based on the 15-times earnings multiple paid by Sherwin-Williams Co. for Valspar Corp. earlier this year, he said. Axalta has posted two straight quarters of profit declines amid rising costs for paint ingredients. The company attributes the rapid increase in recent sales mainly to a strong global digitization trend. Axalta | 60,554 followers on LinkedIn. The bid would come three months after Axalta said it would explore a sale. Earlier this month, the company issued a second profit warning under new CEO Vanlancker, who was hastily ushered in as CEO in July after his predecessor resigned for health reasons. Axalta, of which Warren Buffett’s Berkshire Hathaway Inc. is the largest shareholder, soared 17% in New York Friday after Reuters first reported the talks. The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Price to Earnings Ratio vs. the Market. Axalta, a U.S. coatings company, has a roughly … The company reported net sales of $4.1 billion last year and employs about 13,000 people. Reactions: Barry. PHILADELPHIA, Dec. 2, 2020 /PRNewswire via COMTEX/ -- Axalta seems to have decent stuff now a days, not as common as PPG yet around here. Axalta is a global manufacturer, marketer and distributor of coatings systems. AkzoNobel was the target of a long-running hostile bid from PPG Industries in 2017, with investors Elliott Management pushing hard for the takeover. AkzoNobel is looking to pay close to no premium in any deal with Axalta, a person familiar with the matter said over the weekend. Pros. Consolidation is very much the name of the game in this industry, so I expect Axalta to be prominent pick on any list of targets. Axalta is the 17th largest public company in … According to a report by Reuters, PPG Industries Inc. (NYSE:PPG) and the private equity firm Clayton, Dubilier & Rice LLC (CDR) are among groups considering acquiring Axalta Coating Systems Inc. (NYSE:AXTA).Also reported to be considering a bid for Axalta is a partnership between Platinum Equity LLC, and Koch Industries Inc. AkzoNobel was the target of a long-running hostile bid from PPG Industries in 2017, with investors Elliott Management pushing hard for the takeover. In looking to the New Year, the challenges and uncertainty experienced in 2020 due to COVID-19 and the financial ramifications will likely continue into 2021. Great Pay and cash match Being sold to Carlisle Group. Axalta, led by President and Chief Executive Officer Robert Bryant, has been a takeover target for years. Axalta, a U.S. coatings company, has a roughly … Companies in the individual leisure space such as recreational vehicles, outdoor furniture and sporting equipment are positioned for success as local lockdowns are announced. According to Reuters, the partnership between PPG and CDR … At the time, Economy Minister Henk Kamp backed the rejection of PPG in favor of a go-it-alone position becuase “Akzo’s headquarters, its R&D and its staff in the Netherlands, contributes to the strength of the Dutch economy.”, By Ellen Proper and Manuel Baigorri, with assistance from Jack Kaskey and Ed Hammond. In the first half of 2020,  manufacturing globally secured a total deal value of $26.2 billion, a 46% decline and 21% decline in deal volume when compared to the first half of 2019. © 2020 Endeavor Business Media, LLC. Axalta Coating Systems Ltd has formed a board committee to explore a sale, Reuters reported. Those talks concluded without a deal. Axalta employs 14,000 at its plants and paint labs worldwide, including its new central research and development facility at the Navy Yard business center and its Americas offices in Glen Mills. Axalta Coating Systems in the UK are a leading manufacturer of industrial coatings of which Industrial Coatings Ltd are proud to be a select distributor for their products. Axalta, CDR, and Platinum Equity didn’t respond to a request to comment. Spies Hecker A division of Axalta, Spies Hecker is a German brand of automotive refinishing paint, and one of the largest suppliers of … Making the world more colorful for 150+ years. ... Division has been sold and it doesnt exists any more . Axalta's share price … It was sold to the private-equity firm Carlyle Investment Management for $4.9 billion in early 2013, in what was at the time the largest-ever carve-out of a chemical business from a diversified chemical conglomerate and remains among the biggest of such deals; Carlyle carried out an initial public offering of Axalta in November 2014. Before Carlisle, Bausch led the Industrial Coatings business for PPG from 2014 to 2017 and spent 25 years at Dow Corning Corporation in a variety of senior management and commercial roles. Axalta employs 14,000 at its plants and paint labs worldwide, including its new central research and development facility at the Navy Yard business center and its Americas offices in Glen Mills. What sectors to watch in 2021, ‘Real Housewives of New Jersey’ star Melissa Gorga finally sold her ‘Scarface’ inspired mansion for $2.5 million. Profitable industrial companies such as Axalta are typically sold at premium prices, encouraging investors who hanker for a piece of the action. Axalta rose 10% this year through Tuesday, while a Russell 1000 materials index climbed 15%. Consolidation is very much the name of the game in this industry, so I expect Axalta to be prominent pick on any list of targets. Investing in technology capabilities could increase machine-based manufacturing, improving efficiency and reducing the risk of operational disruptions like COVID-19. Axalta Coating Systems Ltd has formed a board committee to explore a sale, Reuters reported. The move to combine with Axalta comes as the clock counts down to Dec. 1, when AkzoNobel’s rival-turned-suitor PPG could make another run for the company under Dutch takeover rules. DuPont Performance Coatings, rooted in the dawn of the Automobile Age, now sports a new name after the completion of its $4.9 billion sale to The Carlyle Group on Feb. 1, the companies announced Monday (Feb. 4).. Copyright (C) 2020 PR Newswire. Overall, the manufacturing deal value and deal volume declined by a significant 40% and 28%, respectively, in 2020 compared to 2019. Is there a problem with this press release? in Business Administration, summa cum laude, from Alma College and an M.B.A. from the University of Michigan – Flint. Deal or No Deal: Is Manufacturing M&A on Track for Resurgence? She earned a B.S. Three years ago, AkzoNobel was being sounded out as a potential buyer of Axalta, according to people familiar with the matter. PPG and Axalta, two of the world’s ... industry has faced sustained criticism over its continued use of natural mica from Indian mines to produce makeup sold to … All rights reserved. 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