Axalta buys Valspar’s U.S. coatings division to further diversify business lines

The trust will focus on data center assets benefiting from the AI boom, particularly those already built and income-generating through leases with large-scale cloud and technology providers.

Bidders include private equity firms Brookfield, CVC and Blackstone, with binding offers expected within six weeks.

The transaction strengthens Reddy Ice’s scale and geographic reach across the U.S. and Mexico.