AkzoNobel Closes Sale of Specialty Chemicals to The Carlyle Group and GIC - BodyShop Business

AkzoNobel Closes Sale of Specialty Chemicals to The Carlyle Group and GIC

Akzo Nobel N.V. announced it has completed the sale of the Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of $11.7 billion.

Akzo Nobel N.V. announced it has completed the sale of the Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of $11.7 billion.

“Today is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company, with market leading positions, strong global brands, and a clear strategy to create value for all our stakeholders,” said Thierry Vanlancker, CEO of AkzoNobel. “This is also an important step for the Specialty Chemicals business, and I would like to take this opportunity to say thank you to our colleagues and wish them a successful future with Carlyle and GIC.”

Added Charles Shaver, CEO of Specialty Chemicals, “I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle and GIC to deliver long-term success. Specialty Chemicals has a strong global presence and a talented and dedicated team, and I believe there is significant opportunity to drive additional growth through innovation and customer focus to build on the company’s leading positions in its markets.”

“We are excited to invest in Specialty Chemicals, and we are committed to growing the business and continuing to enhance its competitive position,” said Martin Sumner and Zeina Bain, managing directors at The Carlyle Group. “Specialty Chemicals has a great heritage, a high-quality asset base and workforce, an excellent track record of innovation as well as a diversified customer and product portfolio. We look forward to working with Charlie and the management team to support Specialty Chemicals as it embarks on a new phase as an independent company.”

You May Also Like

BASF to Recognize Five Talented Individuals with Awards at SEMA

Whether the award is for making a car look great using BASF products or encouraging the next generation of talent, BASF will recognize the best of the best.

BASF announced it will be awarding five talented collision professionals with special awards at the SEMA Show Oct. 31-Nov. 3 in Las Vegas. Whether the award is for making a car look great using BASF products or encouraging the next generation of talent, BASF will recognize the best of the best.

Valley Collision-Mesa in Arizona Joins 1Collision

1Collision has announced the addition of Valley Collision-Mesa in Arizona to its nationwide network.

URG, Team PRP Sponsor NABC FREE Program

United Recyclers Group and Team PRP will be presenting sponsors of the NABC F.R.E.E. program at the IIHS Vehicle Research Center Oct. 10 and 12.

ASE Education Foundation Board Chair Delivers Welcome Message

Trey Michael has released an official statement to the automotive industry as he accepts his new position as chair of the ASE Education Foundation for 2023.

Kent Automotive Named Exclusive Distributor of 4Plastic Repair

Kent Automotive has been named the exclusive distributor of 4Plastic supplies and tools in the U.S. and Canada. 

Other Posts

SEMA Launches New Award for Best Engineered Vehicle

The SEMA Best Engineered Vehicle of the Year Award will honor and celebrate a build that demonstrates quality engineering throughout the entire vehicle.

CIF Announces asTech as Repeat Annual Donor

The CIF announced that asTech has committed again to its Annual Donor Program.

Matt Ebert of Crash Champions to Lead 2023 MSO Symposium

Matt Ebert, founder and CEO of Crash Champions, will emcee the 2023 MSO Symposium Oct. 30 in Las Vegas.

Classic Collision Enters Virginia

Classic Collision has announced six new closings with the acquisition of Elite Auto Body Group in Virginia.