Toronto, Ontario — September 4, 2014 — AkzoNobel may be a potential buyer for Axalta Coating Systems, according to a report on Bloomberg.com. The report cites “people familiar with the matter†who have asked not to be identified as the plan is private.
Axalta was purchased by Carlyle Group from DuPont in February 2013. The Bloomberg report says Carlyle Group is open to bids, coinciding with a planned initial public offering (IPO) for Axalta. According to the Bloomberg report, the unnamed source indicates that AkzoNobel has not indicated whether it is interested in purchasing Axalta.
AkzoNobel spokeswoman Diana Abrahams was quoted by the news agency as saying: “We do know about the business and we’ve heard of the IPO, but that’s all there is to say.”
AkzoNobel is already heavily involved in the automotive coatings business on a global level. The source cited in the Bloomberg article indicated AkzoNobel and Sherwin-Williams are seen as the best fits for potential purchasers of Axalta.
Axalta reported revenues of $4.3 billion in 2013. The company filed for an IPO in August 2014.
