Axalta Coating Systems announced the acquisition of Ellis Coatings, a well-known manufacturer of industrial paints and automotive refinish paints in North America, adding the Ellis brand to Axalta's product system. Specific financial terms of the transaction were not disclosed.
Founded in 1887 and with a 130-year history, Ellis Coatings is a well-known manufacturer and distributor of coating products for a variety of industrial applications and substrates, including steel, concrete and wood, marine and construction equipment, and indoor and outdoor Outdoor furniture and accessories. Ellis Coatings' products include Hy-Lux series of multi-purpose coatings, Shaft-Lac series of solvent-based coatings, Maximus low-VOC industrial maintenance coatings, and Engard series of heavy-duty industrial coatings.
Axalta's Senior Vice President and President of Industrial Coatings, Michael Cash, said: "Ellis is committed to providing innovative and sustainable ideas that are consistent with our emphasis on technology and business strategy. We are committed to continuing to support Ellis Coatings' existing Customers and look forward to leveraging Axalta's market advantage to extend Ellis Coatings' premium brand to new customers. "