Axalta CEO Predicts Coatings Mergers

Former Axalta CEO Charlie Shaver says he expects several major takeovers and mergers in the global coatings industry over the next two years.

Former Axalta CEO Charlie Shaver says he expects several major takeovers and mergers in the global coatings industry over the next two years. Shaver made these comments, which can be read HERE, to consulting firm McKinsey. 

“My view is there will be one or two large consolidation steps in the next two years,” he says, “but I can’t tell you which they will be. And below the mega-deals, the leading players will continue to do three to five medium-size acquisitions each year.” 

Shaver believes Axalta is in great shape as one of the world’s largest coatings makers. “We aren’t in need of anything,” he says. “We’re the global market leader in refinish (coatings), we’re global No. 2 in powder coatings and in transportation coatings.”

Shaver left Axalta on August 20 to become CEO of the chemicals division of Dutch paint maker Akzo Nobel, which Akzo agreed to sell to buyout group Carlyle (CG.O) and Singapore sovereign wealth fund GIC.