Axalta Coating Systems has entered an agreement to acquire the Spencer Coatings Group.
The Spencer Coatings Group, established in 1909, is the largest independent industrial coatings manufacturer in the United Kingdom. The company’s line of products includes Acothane™ polyurethanes for internal and external pipeline coatings.
“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.”
Financial terms of the transaction were not disclosed.