PHILADELPHIA--(BUSINESS WIRE)--
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid
and powder coatings, announced today that it has entered an agreement to
acquire the Spencer Coatings Group, a leading manufacturer of high
performance industrial coatings for heavy-duty equipment, general
industrial, oil and gas, and glass coatings segments. Financial terms of
the transaction were not disclosed.
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Front row: Phil Buck, Spencer Coatings Group Managing Director (third from left) and Michael Cash, Axalta SVP and President, Industrial Coatings (fourth from left) with other Spencer Coatings Group shareholders, Axalta executives, and guests. (Photo: Axalta)
The Spencer Coatings Group, established in 1909, is the largest
independent industrial coatings manufacturer in the UK. Spencer’s
decades of success are attributed to their high quality, durable
products, with a reputation of unparalleled customer service. Well-known
Spencer products include Acothane™ polyurethanes for internal and
external pipeline coatings, Corroless™ coatings which provide a range of
highly efficient corrosion control solutions for a variety of steel
structures, and high-performance water-based coatings for both glass and
general industrial segments.
“We are very proud to welcome the Spencer Coatings Group into the Axalta
family,” said Michael Cash, Axalta Senior Vice President and President,
Industrial Coatings. “Spencer’s industry-leading product technologies
fit very well within Axalta’s current industrial portfolio. With the
acquisition of Spencer, we will have the opportunity to take some
incredibly innovative products and expand into new geographies, as well
as provide our combined industrial customers with additional product
technologies. We both share a strong commitment to our customers and to
the Industrial Coatings markets in which we participate.”
"We have spent the past twenty years building a specialized industrial
coatings business with innovative coating systems which are supplied to
customers in the UK and overseas,” said Phil Buck, Spencer Coatings
Group Managing Director. “To continue to grow and provide confidence to
our customers and employees, we felt that the Spencer Coatings Group
would benefit from being part of a larger coatings company that would
enable us to accelerate our growth plans. Axalta Coating Systems, with
their global footprint and commitment to innovation, will provide the
best home for our company and we are very excited about the prospects
for both companies."
Spencer’s three England-based manufacturing facilities supply industrial
products throughout the United Kingdom and international markets. For
more information about the Spencer Coatings Group product portfolio,
visit www.spencercoatings.co.uk.
About the Spencer Coatings Group
The Spencer Coatings Group has built its business on technical
expertise, customer focus, passion and hard work. With more than 100
years of manufacturing experience and a commitment to research and
development, Spencer manufactures coatings specifically designed to meet
the needs of their target environment. From offshore locations to
structural steelwork, from pipelines to internal factory floors,
Spencer’s products are tailor-made for specific applications.
About Axalta Coating Systems
Axalta is a leading global company focused solely on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light OEM vehicles, commercial vehicles and refinish
applications to electric motors, buildings and pipelines, our coatings
are designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With 150 years of experience in the
coatings industry, the 13,000+ people of Axalta continue to find ways to
serve our more than 100,000 customers in 130 countries better every day
with the finest coatings, application systems and technology. For more
information visit axaltacoatingsystems.com
and follow us @axalta on Twitter and on LinkedIn.
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Source: Axalta Coating Systems