Carlyle Group buys DuPont's coating business for $4.9 bn

Global asset manager Carlyle Group has agreed to acquire US chemicals giant DuPont's coating business DuPont Performance Coatings (DPC) for approximately $4.9 billion in an all-cash deal, the firm's fourth major industrial investment in two months.

Wilmington, Delaware-based DPC, established 90 years ago, is the world's leading manufacturer and supplier of coating systems primarily for the transportation industry covering automobile, aviation and marine sectors. DPC has over 11,000 employees and its 2012 sales are expected to cross $4 billion.

Through the acquisition, Carlyle is looking forward to DPC's strong growth potential in emerging markets, particularly in China and Brazil based on its advanced technology and successful brands.

Carlyle managing director Greg Ledford said: ''DuPont Performance Coatings is a successful business with attractive market positions, next-generation technology and established brands.''

''Through targeted investments we will support DPC's product development and growth objectives as it transitions to a stand-alone company,'' Ledford further said.

DPC's four production segments, refinish, OEM, industrial liquid and powder, are considered to be one of the highest quality paint providers for the auto industry. The company has manufacturing facilities in six continents, serving customers in 120 countries.