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. Great Pay and cash match Being sold to Carlisle Group. Axalta, a U.S. coatings company, has a roughly ⦠Axalta shares fell $0.51 or 1.69% Monday to $29.64. 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. 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.". Reuters reported Downtown-based PPG could partner with private equity firm Clayton, Dubilier & Rice to acquire Warren Buffett-backed Axalta. 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. 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. 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. 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. Axalta rose 10% this year through Tuesday, while a Russell 1000 materials index climbed 15%. The move to combine with Axalta comes as the clock counts down to Dec. 1, when AkzoNobelâs rival-turned-suitor PPG could make another run for the company under Dutch takeover rules. AkzoNobel was the target of a long-running hostile bid from PPG Industries in 2017, with investors Elliott Management pushing hard for the takeover. 3.2 â
1,351 Reviews ... Glassdoor has 348 Axalta reviews submitted anonymously by Axalta employees. A behind-the-scenes look at how we created the 2019 Color Trends. 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. ICI other divison dont have much knowledge. Three years ago, AkzoNobel was being sounded out as a potential buyer of Axalta, according to people familiar with the matter. 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. Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. 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. The discussion on the merger followed AkzoNobelâs rebuffing of an unsolicited merger offer from PPG Industries earlier in 2017. 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. Businesses and supply chains took a major hit, and moving forward, they must become smarter and more agile. AkzoNobel, Sherwin-Williams, PPG, Axalta and BASF are the major manufacturer of antimicrobial coating. The move to combine with Axalta comes as the clock counts down to Dec. 1, when Akzo Nobelâs rival-turned-suitor PPG could make another run for the company under Dutch takeover rules. 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 founding father of the automotive paint business is being laid to rest. Axalta seems to have decent stuff now a days, not as common as PPG yet around here. Those talks concluded without a deal. According to Reuters, PPG Industries has partnered with private equity investor Clayton, Dubilier & Rice to consider acquiring Axalta Coating Systems. Axalta Coating Systems Powder North America 9800 Genard Road Houston, TX 77041 1-800-247-3886 Among its arguments against a takeover by PPG, the Dutch paintmaker said that the deal would be difficult to get passed competition authorities. Axalta shares fell $0.51 or 1.69% Monday to $29.64. More recently, it was rumored that PPG was interested in acquiring the company, but nothing has come of it. Axalta has a phenomenal Cash Return on Equity; nevertheless, with debt factored in, its CROTC is just 10.4%. 2020 Was the Year of Grit. Axalta Coating Systems (NYSE:AXTA) today announced that it has sold its 60,000th spectrophotometer, with 10,000 sold in the past 15 months. The bid would come three months after Axalta said it would explore a sale. 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. For more information, visit axalta.com and follow us @axalta on Twitter. As the Dutch company takes steps to separate its chemical division, it’s struggling to fulfill pledges to boost profitability. The surprise departure was followed by that of the company’s finance chief, who also left for health reasons. 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. 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. On Your Coatings Radar â California Lead Litigation Marathon Over On Your Coatings Radar â Axalta Once Again Enters the Acquisition Rumor Mill Learn More. It has been sold to PPG and Akzo Nobel both are paint companies . SPACs have allowed development-stage companies quick access to capital to scale operations. 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. While global mergers and acquisitions have seen a recovery during the second half of 2020, the recovery in manufacturing has been relatively muted. PPG is one of the only automotive refinishing supply companies able to provide any type of automotive coating for body shops. Making the world more colorful for 150+ years. Earnings for Axalta Coating Systems are expected to grow by 47.90% in the coming year, from $1.19 to $1.76 per share. PHILADELPHIA, Dec. 2, 2020 /PRNewswire via COMTEX/ -- In order to provide complete functionality, this web site needs your explicit consent to store browser cookies. Copyright © 2020 MarketWatch, Inc. All rights reserved. Governmental changes paired with COVID-19 resurgence could make capital markets more volatile, which would be unfavorable for dealmaking. Axalta shares jumped 14 percent on the news to $29.52 a share, giving the company a market capitalization of about $7 billion. Increased SPAC activity will continue in 2021 with areas such as EV-charging infrastructure, power storage and 3D printing. Axalta's LTM revenue dropped 3.3%, while operating income increased by 4.14%. Glassdoor. "Shelley is a dynamic leader with experience managing complex product portfolios sold into diverse and fragmented industrial end markets. 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. 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. It is forecast that silver biocides based antimicrobial coating will remain the ⦠PPG offers paint color services and support to designers, painters, and architects. 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. ... Division has been sold and it doesnt exists any more . Sold by DuPont in 2013, Axalta supplies spray paint and metal treatments for automotive chassis. Axalta's share price ⦠View the latest Axalta Coating Systems Ltd. (AXTA) stock price, news, historical charts, analyst ratings and financial information from WSJ. According to Reuters, the partnership between PPG and CDR ⦠The company reported net sales of $4.1 billion last year and employs about 13,000 people. Learn More. 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. 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. 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. 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. Overall, the manufacturing deal value and deal volume declined by a significant 40% and 28%, respectively, in 2020 compared to 2019. Axalta, a U.S. coatings company, has a roughly ⦠in Business Administration, summa cum laude, from Alma College and an M.B.A. from the University of Michigan – Flint. 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. Importantly, the shift is being driven not only by environmental regulations but also economics given the higher productivity of waterborne coatings. Axalta rebuffed acquisition approaches in ⦠crashtech Combo Man. Deals in the second half of 2020 were driven by access to capital by way of private equity and special purpose acquisition companies (SPAC). Carlyle Group LP, which bought company from DuPont in February 2013, was open to bids alongside a planned initial public offering and investment bankers were pitching a deal to Akzo Nobel, the people said. Axalta could still decide not to sell itself and remain independent. AkzoNobel, Sherwin-Williams, PPG, Axalta and BASF are the major manufacturer of antimicrobial coating. 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. What Will 2021 Bring? The bid would come three months after Axalta said it would explore a sale. 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. 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. Indeed, PPG is reportedly looking at making an offer, and Akzo Nobel and Axalta previously discussed a merger in 2017, while private equity firms ⦠In 2017, Axalta and AkzoNobel explored a potential merger of the two global coatings companies. Some of ⦠"Shelley is an outstanding business leader with extensive experience in industrial products and coatings. The carve-out — which Akz Nobel said Monday remains on track for April 2018 and is unaffected by the merger discussions — comes with the return of 1 billion euros ($1.l6 billion) in special dividends to be issued in December. 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. All rights reserved. AkzoNobel is looking to pay close to no premium in any deal with Axalta, a person familiar with the matter said over the weekend. © 2020 Endeavor Business Media, LLC. Its corporate headquarters is located in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. Price to Earnings Ratio vs. the Market. A behind-the-scenes look at how we created the 2019 Color Trends. Axalta could be valued at $49 a share, Seaport Global ⦠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. About Us; Reviews from Axalta Coating Systems employees about Axalta Coating Systems culture, salaries, benefits, work-life balance, management, job security, and more. 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. 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 Coating Systems is a coatings company headquartered in Philadelphia, PA that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. 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. Contact the source provider Comtex at editorial@comtex.com. Axalta | 60,554 followers on LinkedIn. Deal or No Deal: Is Manufacturing M&A on Track for Resurgence? "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. PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. PHILADELPHIA, Dec. 2, 2020 /PRNewswire/ -- Axalta Coating Systems Ltd. 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