International. Axalta Coating Systems announced that it has signed an agreement to acquire Spencer Coatings Group, a manufacturer of high-performance industrial coatings for heavy equipment, oil and gas, and glass coatings. Financial terms of the transaction were not disclosed.
Spencer Coatings Group, established in 1909, is an independent manufacturer of industrial coatings in the United Kingdom. Spencer's decades of success are attributed to its high-quality, durable products, with an unprecedented reputation for customer service. Spencer's well-known products include Acothane polyurethanes for internal and external pipe coatings, Corroless coatings for highly efficient corrosion control for a variety of steel structures, and high-performance water-based coatings, segments.
"We are very proud to welcome the Spencer Coatings Group to the Axalta family," said Michael Cash, Senior Vice President of Axalta and President of Industrial Coatings. "Spencer's product technologies fit very well within Axalta's current industrial portfolio. With the acquisition of Spencer, we will have the opportunity to take some 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."
