Axalta Buys the UK’s Plascoat Systems
US coatings group Axalta has acquired Plascoat Systems, a UK-based leading supplier of thermoplastic powder coatings, from parent company International Process Technologies (IPT) for an undisclosed sum. The deal includes Plascoat’s manufacturing facilities in Farnham, UK, and Zuidland, Netherlands.
Plascoat’s leading products include PPA 571, used in a wide variety of outdoor applications; Talisman used extensively to coat dishwasher baskets; and PPA 571 Aqua, used for coating potable water pipes.
Axalta’s senior vice president and president, industrial coatings, Michael Cash, said Plascoat’s knowledge and expertise will enhance Axalta’s existing thermoplastic power coatings business, enabling it to provide even more innovative products to customers. IPT’s chairman, Jeremy Stoke, added that the merger is a great opportunity for Plascoat to grow and advance its offerings.
The purchase is the latest in a long line of acquisitions that Axalta has made during the past two years. Last month, the Philadelphia-headquartered group made a binding offer to buy the European and Chinese operations of wire enamel manufacturer IVA from US parent Superior Essex.
The deal includes sites in Meyzieu, France, and Changzhou, China, which is operated through a joint venture with a local minority partner. The transaction, which is subject to the usual closing conditions and regulatory clearance, is expected to be completed in late 2017 or early 2018.