Axalta Coating Systems (NYSE: AXTA) has agreed to purchase Spencer Coatings Group, a manufacturer of industrial coatings for heavy duty equipment, for an undisclosed amount. This marks as the Axalta’s second deal in less two months, including the acquisition of the North American industrial wood coatings division from The Valspar Corp. (NYSE: VAL) and The Sherwin-Williams Co. (NYSE: SHW).
Spencer Coatings Group is a U.K.-based independent distributor of industrial coatings materials. Founded in 1909, the target produces polyurethanes used for internal and external pipeline coatings, coatings needed for corrosion control of steel structures, and “high performance” water-based coatings used in the glass and general industrial markets. Acothane and Corroless are among the Spencer-owned brand names.