In the week of October 6, 2026, the automotive industry saw significant activity including a former AutoCanada executive purchasing additional shares, AkzoNobel agreeing to sell decorative paint operations in Southeast Asia and Oceania to Nippon Paint for US$1.35 billion, and two major supplier acquisitions being completed by PHINIA and Gentherm.
- AutoCanada insider investment: Former executive chair Paul Antony purchased 20,000 shares for $461,390, raising his stake to approximately 14.31% when including options.
- AkzoNobel paint sale: US$1.35 billion agreement to sell decorative paints operations across seven Southeast Asian and Oceania markets to Nippon Paint, with net proceeds of approximately US$1 billion expected.
- PHINIA acquires stoba: German precision components manufacturer acquisition completed October 1, expanding capabilities in off-highway, industrial, aerospace and defense sectors.
- Gentherm-Modine merger: Combination of Gentherm with Modine's Performance Technologies completed October 1, creating a global leader in thermal and precision flow management solutions.
- Market performance: All three companies saw positive stock performance on announcement dates, with gains ranging from 0.99% to 2.24%.
In this week’s Tuesday Ticker, a former executive chair has increased his investment in a Canadian dealership and collision repair group, a coatings manufacturer has agreed to sell decorative paints operations, and two automotive supplier transactions have been completed.
Former chair adds shares
A former executive chair has purchased another $461,390 in shares of the Canadian dealership and collision repair group he previously led.
Paul Antony, AutoCanada’s former executive chair and director, disclosed the purchase on Oct. 5. He left those positions in October 2025 and entered an advisory agreement running through the end of 2026.
Edmonton-based AutoCanada operates 61 franchised dealerships across eight Canadian provinces, along with three independent used vehicle dealerships. Its ACX collision repair business operates 38 centres and holds 26 OEM certifications covering 37 vehicle brands.
Antony’s holding company, MAP Investco Inc., bought 20,000 AutoCanada shares on Oct. 2. The price was $23.0695 per share, excluding commissions.
Following the purchase, Antony and investors acting jointly with him owned or controlled approximately 1.96 million common shares, plus options to purchase another 1.5 million.
Their combined holding would represent approximately 14.31% of outstanding shares if those options were exercised, compared with 14.23% before the purchase. Antony acquired the shares for investment purposes.
AutoCanada shares closed at $22.88 on Oct. 2, down $0.10 or 0.44%.
AkzoNobel agrees to decorative paints sale
A US$1.35-billion agreement has been reached to sell decorative paints operations across seven markets in Southeast Asia and Oceania.
Amsterdam-based AkzoNobel announced the agreements with Nippon Paint on Oct. 5.
AkzoNobel manufactures paints and protective coatings for buildings, vehicles and industrial applications. Its automotive refinish brands include Sikkens and Lesonal, which supply paint systems used in collision repairs.
Nippon Paint is a Japanese paint and coatings group with head offices in Osaka and Tokyo. Its businesses supply architectural, automotive and industrial coatings.
The sale covers AkzoNobel’s decorative paints operations in Vietnam, Indonesia, Malaysia, Thailand, Singapore, Papua New Guinea and Australia. Projected net cash proceeds total approximately US$1 billion after taxes and payments to minority partners.
Completion of the Indonesia transaction is anticipated in late 2026. The remaining transactions are scheduled for completion around mid-2027, subject to closing conditions and regulatory approvals.
Greg Poux-Guillaume, AkzoNobel’s chief executive officer, said the disposal forms part of a strategy to “focus our portfolio on areas where we can achieve differentiating scale and strengthen our position.”
AkzoNobel’s proposed merger with Philadelphia-based Axalta remains pending. Axalta manufactures automotive factory coatings, collision repair refinishes and industrial coatings. The merger agreement was announced in November 2025.
AkzoNobel shares closed at €56.68 on Oct. 2, before the announcement, up €1.24 or 2.24%.
PHINIA completes stoba acquisition
A German precision components manufacturer has been acquired by the automotive supplier behind the Delphi, Delco Remy and Hartridge brands.
PHINIA completed its purchase of all equity interests in stoba Group on Oct. 1.
Based in Auburn Hills, Mich., PHINIA manufactures fuel injection and electrical systems. Its aftermarket business supplies new and remanufactured repair parts through OEM dealerships and independent distributors.
Stoba is based in Backnang, Germany. Its businesses manufacture high-precision components and develop production equipment and customized manufacturing systems.
The acquisition adds capabilities serving passenger and commercial vehicles, off-highway equipment, industrial applications, semiconductors, aerospace and defence.
“We expect the integration to broaden our presence in off-highway, industrial and other end markets,” said Brady Ericson, PHINIA’s president and chief executive officer.
Ericson also cited supply chain resilience and cost efficiencies as anticipated benefits.
PHINIA shares closed at US$60.03 on Oct. 1, up US$0.60 or 1.01%.
Gentherm completes Modine transaction
An automotive heating and cooling supplier has completed its combination with a business manufacturing temperature-control systems for vehicles and industrial equipment.
Gentherm completed the transaction with Modine’s Performance Technologies business on Oct. 1. The agreement was announced on Jan. 29.
Based in Novi, Mich., Gentherm manufactures vehicle comfort systems, including heated, ventilated and cooled seats and heated steering wheels. Its products also include valves and other components that control fluid flow.
Modine is based in Racine, Wis. The transferred Performance Technologies operations manufacture heating and cooling systems for passenger vehicles, commercial vehicles, off-highway equipment and power generation.
Modine shareholders received 0.44619 Gentherm shares for each Modine share held on the record date. At closing, those shareholders held approximately 43.62% of the combined business.
“Together, we have created a global leader in thermal and precision flow management solutions serving multiple end markets,” said Bill Presley, Gentherm’s president and chief executive officer.
Gentherm also acquired the Modine brand, domains and trademarks. Performance Technologies will operate as a Gentherm division.
The remaining publicly traded Modine business has proposed changing its name to Modexus Solutions, subject to shareholder approval.
Gentherm shares closed at US$33.63 on Oct. 1, up US$0.33 or 0.99%.
