Global alternative asset manager The Carlyle Group has completed its acquisition of DuPont Performance Coatings for $4.9 billion and announced today that the company is being renamed Axalta Coating Systems.

Axalta Coating Systems is a global supplier of coatings to the transportation and industrial sectors. The investment was funded primarily with equity from Carlyle Partners V and Carlyle Europe Partners III.

Axalta Coating Systems will continue to do business as DuPont Performance Coatings for the next several months until the new name is formally launched in the second quarter of 2013.