09:00 AM EDT, 05/13/2024 (MT Newswires) -- Axalta Coating Systems ( AXTA ) said Monday that it agreed to acquire CoverFlexx Group for initial cash consideration of $285 million, plus an additional $10 million earnout based on the 2024 performance of the business.

The aftermarket coatings business will be acquired from Transtar Holding in a deal expected to close in Q3, Axalta said.