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Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
The transaction will create a paints and coatings giant with $17B in annual revenues that is active in more than 160 countries.
Chris Villavarayan, CEO of Axalta, said the merger joins “best-in-class platforms to enhance innovation, develop new capabilities and further strengthen customer relationships.”
AkzoNobel shareholders will own 55 percent of the combined and renamed company, with Axala investors owning the balance. Greg Poux-Guillaume will serve as CEO of the merged New York Stock Exchange-listed entity. Villavarayan will slide into the deputy CEO position.
The deal is expected to close late next year or in early 2027.
Joele Frank, Wilkinson Brimmer Katcher’s Jamie Moser, Adam Pollack and Jed Repko handle Axalta.
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