Axalta Coating Systems Acquires The CoverFlexx Group to Expand Automotive Refinish Portfolio

Axalta Coating Systems (NYSE: AXTA) has completed the acquisition of The CoverFlexx Group from Transtar Holding Company, a strategic move aimed at enhancing its position in the automotive coatings sector. The CoverFlexx Group specializes in coatings for automotive refinish and aftermarket segments across North America, catering particularly to economy customers. This acquisition bolsters Axalta's portfolio with CoverFlexx's expertise, market presence, and renowned brands like Transtar® Autobody Technologies and Pro-Form™. Axalta aims to leverage synergies to broaden its market reach and deliver added value to its diverse clientele, aligning with its strategic focus on expanding the Refinish business.

Chris Villavarayan, Axalta’s CEO and President, emphasized the strategic importance of this acquisition in advancing Axalta's comprehensive offerings in Refinish coatings. Troy Weaver, Axalta’s President of Global Refinish, looks forward to integrating CoverFlexx’s capabilities into Axalta, fostering growth and achieving new milestones in the Refinish business. This move underscores Axalta's commitment to innovation, quality, and customer satisfaction in the global coatings market.

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