Axalta o Acquire The CoverFlexx Group For A Total Cash Consideration Of $285M
Portfolio Pulse from Benzinga Newsdesk
Axalta Coating Systems (AXTA) has announced its plan to acquire The CoverFlexx Group from Transtar Holding Company for $285 million, with an additional $10 million earnout based on 2024 performance. The deal is expected to close in the third quarter, pending regulatory approval and customary closing conditions.
May 13, 2024 | 12:15 pm
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Axalta's acquisition of The CoverFlexx Group for $285 million, with an additional $10 million earnout, indicates a strategic expansion, pending Q3 close and regulatory approvals.
The acquisition of The CoverFlexx Group by Axalta Coating Systems represents a significant strategic move, likely to enhance Axalta's product offerings and market position. The deal's successful closure, expected in the third quarter, could positively impact investor sentiment and Axalta's stock price in the short term, assuming regulatory approval and fulfillment of closing conditions. The additional earnout based on 2024 performance further aligns the acquisition with future growth prospects.
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