Axalta Coating Systems Ltd. (NYSE: AXTA) has purchased Geeraets Autolak. The target is a distributor of Axalta’s Cromax brand in the Netherlands. Financial terms were not disclosed.
Cromax makes basecoat color coatings and sealants that are mostly used in automotive and industrial manufacturing. Philadelphia-based Axalta says the purchase will help improve the company’s overall sales and distribution operations. Geeraets is also known for producing coatings, sealants and sprays.
Coatings manufacturers have been receiving robust buyer interest recently. Audax Private Equity-backed Innovative Chemical Products (ICP) bought adhesives maker Fomo Products Inc.; PPG (NYSE: PPG) is acquiring MetoKote Corp.; Vitro S.A.B. de C.V. is buying the flat glass manufacturing and glass coatings operations of PPG (NYSE: PPG).