Axalta Coating Systems has been on an acquisition spree since January, with Plascoat Systems marking its sixth purchase in less than nine months, writes Joseph DiStefano for the Philadelphia Inquirer.
The industrial coating company in Glen Mills has agreed to purchase Plascoat Systems, which specializes in thermoplastic coatings, from its parent company, International Process Technologies. The details of the deal have not been disclosed.
Plascoat’s European plants in Farnham and Zuidland were included as part of the deal, as well as several of the company’s products. These include the water pipe coating PPA 571 Aqua, PPA 571 for outdoor use, and Talisman used for dishwasher baskets.
Michael Cash, Axalta’s president for industrial coatings, called Plascoat, which was founded more than six decades ago, a pioneer in its industry.
Axalta’s first acquisition this year was Ellis Paint in January, followed by Century Industrial Coatings in February. This led to the acquisition of Valspar’s industrial wood coating business in April and Spencer Coatings Group in May.
Last month, Axalta added to list with the purchase of the French and Chinese plants of the wire enamel maker IVA from Superior Essex.
Read more about Axalta’s acquisitions in the Philadelphia Inquirer by clicking here.