Axalta Coating Systems Buys Dutch Geeraets
With immediate effect, US-based liquid and powder coatings producer Axalta Coating Systems has acquired the business of Geeraets Autolak, a distributor of the company’s Cromax refinish coating products in the Netherlands for nearly 40 years. Financial terms were not disclosed. The former DuPont coatings business, bought by private equity Carlyle in 2013, said it will integrate the operations of Geeraets Autolak into the Axalta organization under the name of Cromax, one of its premium refinish brands recommended among other things for fast and accurate application.
Commenting on the acquisition, Matthias Schönberg, vice president of Axalta and president for Europe, Middle East and Africa, said the acquisition will help the company to optimize its operational infrastructure while at the same time complementing its sales activities to support Cromax customers. In 2015, Axalta acquired another of its distributors in the region, Metalak Benelux. The company had been exclusive distributor of the coatings producer’s Spies Hecker refinish coating products sold in the Netherlands and in parts of Belgium more than 60 years. The acquired company continues to operate under the Metalak name.
