Axalta completes purchase of Valspar North American Industrial Wood Coatings division
June 2, 2017,
HIGH POINT- Global coatings resource Axalta Coating Systems said it has completed the purchase of Valspar’s North American Industrial Wood Coatings business.
The estimated $420 million purchase was completed June 1, the same day that Sherwin-Williams completed its acquisition of Valspar Corp.
The completion of the Axalta purchase was contingent on the completion of the Sherwin-Williams purchase of Valspar Corp.
Axalta described Valspar’s North American Industrial Wood Coatings business as “one of the leading providers of coatings for OEMs and distributors engaged in industrial wood markets, including building products, cabinets, flooring and furniture, in North America.”
It said the businesses’ brands that include Zenith, Ultraguard, Lifeshield and Color Choice will join its portfolio of Performance Coatings products and services. The business also includes manufacturing facilities and offices in High Point and Cornwall Ontario as well as R&D operations in High Point and Minneapolis.
“A shared commitment to customer care, technical service and support, as well as a keen focus on innovation in advancing the technology of wood coatings will provide a strong platform for future growth in this important industrial coatings market,” Axalta said in an announcement on its website.
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