AkzoNobel and Axalta Coating Systems Merge to Create $25B Global Coatings Leader

Axalta Coating Systems Acquires U-POL from Graphite Capital

September 1, 2021

Manufacturing

Axalta Coating Systems has purchased U-POL, a UK-based manufacturer and distributor of automotive repair and refinishing products, from Graphite Capital for £428 million. The acquisition expands Axalta’s product and geographic footprint in the automotive refinish and aftermarket markets and builds on U-POL’s strong reputation for product quality and innovation.

Amcor to Combine with Berry Global in All-Stock Transaction

February 26, 2025

Manufacturing

Amcor plc and Berry Global Group entered into a definitive all-stock merger agreement to combine their complementary packaging businesses. Shareholders of both companies approved the combination, and the transaction has received European Commission antitrust approval; closing is expected in mid-2025 (April 30, 2025 mentioned for EC clearance release).

Henkel to Acquire Stahl Group for €2.1 Billion

February 5, 2026

Manufacturing

Henkel has agreed to acquire Stahl Group, a Dutch specialty coatings company, for €2.1 billion. The deal is intended to expand Henkel Adhesive Technologies into the adjacent specialty coatings category and leverage Stahl’s R&D and customization capabilities. The transaction is subject to regulatory approvals and other customary closing conditions.

ProA Capital Acquires Majority Stake in Acrylicos Vallejo

December 20, 2023

Manufacturing

Spanish private equity firm ProA Capital has agreed to acquire roughly 70% of acrylic paint manufacturer Acrylicos Vallejo in a share purchase valuing the company at about €50 million. The deal leaves founder Alexander Vallejo with just over 20% and brings management into the shareholder base; ProA said it will support international expansion and strengthen the online sales channel.

PPG Completes Acquisition of Tikkurila

June 10, 2022

Manufacturing

PPG acquired Tikkurila, a leading Nordic paints and coatings company, completing the transaction in mid-2021. The deal expands PPG’s architectural coatings footprint across EMEA and China, strengthens distribution and cross-selling opportunities, and complements PPG’s sustainability strategy.

Aksa Akrilik Kimya Sanayii Acquires Dow’s 50% Stake in DowAksa Joint Venture

June 2, 2025

Manufacturing

Dow has agreed to sell its 50% ownership interest in DowAksa Advanced Composites Holdings BV to Aksa Akrilik Kimya Sanayii A.Ş., the other joint venture partner. The deal is expected to close in the third quarter of 2025, subject to regulatory approvals and other customary closing conditions.