Global alternative asset manager The Carlyle Group L.P. has completed its acquisition of DuPont Performance Coatings for $4.9 billion and announced that the company is being renamed Axalta Coating Systems.

Axalta Coating Systems is a global supplier of coatings to the transportation and industrial sectors.

The investment was funded primarily with equity from Carlyle Partners V and Carlyle Europe Partners III.

As an independent company, Axalta Coating Systems will build on a foundation of more than 90 years in the coatings industry. The company serves more than 120,000 customers in 130 countries and provides customers with a full range of coating systems.

Axalta Coating Systems develops, manufactures and sells coatings and application tools to automobile repair body shops and original equipment manufacturers in the automotive and heavy‐duty truck markets. Its strong market positions are supported by global brands including Standox, Spies Hecker, Cromax and Imron.

The company’s technology leadership is highlighted by its best‐in‐class third generation of waterborne systems developed to address growing customer requirements for higher productivity and environmentally friendly coatings.

Axalta Coating Systems also serves the decorative, architectural, general industrial and job‐coater segments of the powder coatings market under the brands Alesta Powder Coatings, NAP‐GARD FBE Powder Coatings and

ABCITE Powder Coatings.

Axalta Coating Systems will continue to do business as DuPont Performance Coatings for the next several months until the new name is formally launched in the second quarter of 2013. The company’s beta website is under development and will enable visitors to navigate to sites that contain information about its products and services.