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Capital Paints is a UAE-based powder coatings manufacturer. Financial terms of the transaction were not disclosed.
September 16, 2019
By: Anthony Locicero
Axalta Coating Systems Ltd. said it entered into a definitive agreement to acquire Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer specializing in architectural powder coatings. The transaction is subject to required regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2019. Financial terms of the transaction were not disclosed. “Capital Paints customers will gain access to Axalta products and services that meet divergent needs, such as Nap-Gard for pipe coatings and Alesta for architectural coatings,” said Sobers Sethi, VP and president, Emerging Markets of Axalta.Â
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