Axalta Completes Acquisition of U-POL

Powder and liquid paint supplier Axalta Coating Systems (NYSE: AXTA) announced that it has successfully completed the acquisition of U-POL Holdings Limited ("U-POL"), which was previously announced. The acquisition of U-POL, a leading supplier of paints, protective coatings and accessories primarily serving the automotive refinish market, will strengthen Axalta's position as a global leader in automotive refinish paints and support its broader growth strategy. Axalta Chief Executive Officer Robert Bryant stated: "The acquisition of U-POL is another step in Axalta's growth strategy and strengthens our global leadership position in the automotive refinish paints segment. The addition of U-POL's team, industry expertise and operations strengthens our capabilities and provides a strong platform for future growth. We will continue to provide a high level of service to our customers while making the U-POL integration as seamless as possible. I am pleased to welcome our newest team members to the Axalta family and look forward with anticipation to everything we can accomplish together under the Axalta umbrella." U-POL's high-quality automotive refinish products and accessories portfolio includes fillers, paints, aerosols, adhesives and paint-related products as well as other automotive aftermarket protective coatings. The addition of these offerings will expand the markets Axalta serves to include significant and growing mainstream and value automotive refinish paint segments. Axalta will leverage U-POL's distribution channels to expand its automotive refinish paints portfolio access to new customers, while accelerating the growth of U-POL's product portfolios by increasing market access through Axalta's existing sales and distribution channels.