The operations of Geeraets Autolak will be integrated into the Axalta organization, operating under the Cromax name. The acquisition takes effect immediately. Financial terms of the agreement were not disclosed.
Axalta Coating Systems (NYSE: AXTA), a leading global manufacturer of liquid and powder coatings, has acquired the business of Geeraets Autolak, a distributor of Axalta's Cromax® refinish coating products in the Netherlands for nearly 40 years. The operations of Geeraets Autolak will be integrated into the Axalta organization, operating under the Cromax name. The acquisition takes effect immediately. Financial terms of the agreement were not disclosed.
Cromax, one of Axalta's global premium refinish brands, is designed to increase the productivity of its body shop customers with coatings systems engineered for fast and accurate application, coupled with business solutions, advanced color measurement technology, marketing support and pragmatic innovations.
"Geeraets customers in the Netherlands will continue to benefit from all the added-value services provided by Geeraets Autolak in the past, but from today onwards that support will be reinforced with resources from Axalta and our Cromax brand," explained Matthias Schönberg, Vice President of Axalta and President for Europe, Middle East and Africa. "This acquisition will help us optimize our operational infrastructure while at the same time complement our sales activities to support our Cromax customers.''
Gerard Geeraets, owner of Geeraets Autolak, says, "Becoming part of Axalta is very exciting. While it's a change, it is a great opportunity for all of us to now be able to work within and benefit directly from such a strong global organization. Our customers can count on the support they have always enjoyed from us, and they will continue to have access to Cromax products and support programs as well as to the full scope of Axalta resources. We know that this will be a great advantage for them in this competitive market."
Han Verschoor, Axalta Sales Manager in the Netherlands, says, "The entire Dutch team, including our new colleagues, is completely focused on our customers and providing them with the best possible service. The acquisition nicely complements our successful Cromax distribution network, which otherwise remains unchanged."
For further information: www.axaltacs.com
Picture - From the left: Han Verschoor, Axalta; Gerard Geeraets, Geeraets_Autolak.