Berkshire Hathaway Invests $560 Million For 8.7% Stake In Axalta by Dr. David Kass

Berkshire Hathaway is investing $560 million to acquire 20 million shares of Axalta Coating Systems Ltd (AXTA) at $28.00 per share for an 8.7% stake from controlling shareholder Carlyle Group which currently owns 74% of the company.

Berkshire owns Lubrizol, the maker of lubricants and Benjamin Moore, which sells paint for use in buildings. Axalta’s paints and coatings are used for vehicles and pipelines, with automobile repair shops being its primary customers.

Carlyle bought AXTA from DuPont in 2013 in a $4.9 billion deal and took the company public in November, 2014 in a $1 billion offering that was priced at $19.50 a share.

Berkshire Hathaway Invests $560 Million For 8.7% Stake In Axalta