Axalta Coating Systems completes its previously announced acquisition of The CoverFlexx Group from Transtar Holding Company. The deal adds the Transtar, Pro-Form, and Aftermkt Armor brands to Axalta’s Refinish business.
Axalta Coating Systems agrees to acquire The CoverFlexx Group from Transtar Holding Company for $285 million in initial cash consideration, with an additional $10 million earnout tied to the business’s 2024 performance. The transaction is expected to close in the third quarter, subject to regulatory approval and other customary closing conditions.
Axalta Coating Systems agrees to acquire The CoverFlexx Group, an aftermarket coatings business focused on economy customers in North America. The deal, from Transtar Holding Company, includes $285 million in initial cash consideration and a $10 million earnout tied to 2024 performance, with closing expected in the third quarter of 2024.
Transtar Holding Company says Axalta Coating Systems signed a definitive agreement to acquire its subsidiary, The CoverFlexx Group. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval; Baird served as CoverFlexx’s exclusive financial advisor.
