M&A Deal Summary

Axalta Acquires CoverFlexx

On May 13, 2024, Axalta acquired chemicals company CoverFlexx from Transtar Holding for 285M USD

Acquisition Highlights
  • This is Axalta’s 13th transaction in the Chemicals sector.
  • This is Axalta’s 3rd largest (disclosed) transaction.
  • This is Axalta’s 7th transaction in the United States.
  • This is Axalta’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2024-05-13
Target CoverFlexx
Sector Chemicals
Buyer(s) Axalta
Sellers(s) Transtar Holding
Deal Type Divestiture
Deal Value 285M USD

Target

CoverFlexx

Brighton, Michigan, United States
CoverFlexx manufactures and sells coatings for automotive refinish and aftermarket applications, focused on economy customers in North America. The business offers a wide range of primers, basecoats, and clearcoats, as well as aerosols, fillers, bed liners, detailing products, and paint shop accessories. CoverFlexx is based in Brighton, Michigan.

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Buyer(S) 1

Buyer

Axalta

Glen Mills, Pennsylvania, United States
Category Company
Founded 1866
Sector Chemicals
Employees12,000
Revenue 5.2B USD (2023)
DESCRIPTION
Axalta's corporate headquarters in downtown Philadelphia.
Axalta's corporate headquarters in downtown Philadelphia.

Axalta is a global manufacturer, marketer and distributor of advanced coating systems primarily for the transportation industry. The company comprises four segments: refinish, OEM, industrial liquid and powder. Axalta operates manufacturing sites on six continents, serving customers in 120 countries directly and through 4,000 distributors. Axalta Coating Systems was incorporated in 1866 and is based in Glen Mills, Pennsylvania.

DEAL STATS #
Overall 15 of 15
Sector (Chemicals) 13 of 13
Type (Divestiture) 4 of 4
State (Michigan) 2 of 2
Country (United States) 7 of 7
Year (2024) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 Andre Koch

Urdorf, Switzerland

Andre Koch is a full-service provider and competence center of car refinish paints, products, services, and education offerings. Andre Koch is based in Urdorf, Switzerland.

Buy -

Seller(S) 1

SELLER

Transtar Holding

Walton Hills, Ohio, United States
Category Company
Founded 2005
Sector Automotive
DESCRIPTION

Transtar Holding Co. is a provider in the value-added distribution of original equipment and aftermarket automotive products for the transmission and driveline repair market. For over 45 years, Transtar has offered thousands of high-quality branded and propriety parts to transmission repair shops and other automotive channels domestically and internationally upon using its robust distribution network throughout the United States, Puerto Rico and Canada to supply products to more than 80 countries. Transtar Holding was founded in 2005 and is based in Walton Hills, Ohio.

DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-18 Arch Auto Parts

Hollis, New York, United States

Arch Auto Parts provides automotive parts and services including strut compression, car battery testing, program tpms sensors, resurface flywheels, custom-built replacement air conditioning hoses & a/c lines, fabricated custom-fit hydraulic hoses, and press wheel hubs bearing ball joints. Arch Auto Parts is based in Hollis, New York.

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Mergr

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