At what enterprise value was COVERFLEXX acquired in 2024?

During the acquisition of COVERFLEXX by AXALTA COATING SYSTEMS in 2024, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 300M - 700M USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Industry & Manufacturing industry currently tracks an average EBITDA multiple of 11.2x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of COVERFLEXX when it was acquired by AXALTA COATING SYSTEMS?

The exact EV/EBITDA multiple for COVERFLEXX is available on mynth capital. For comparison, the Industry & Manufacturing sector currently shows an average EBITDA multiple of 11.2x. Join our community for free to access full valuation data and industry trends.

When was COVERFLEXX acquired by AXALTA COATING SYSTEMS?

COVERFLEXX was acquired by AXALTA COATING SYSTEMS in 2024.

What was the revenue of COVERFLEXX at the time of the deal?

The revenue of COVERFLEXX at the time of the deal is estimated to be in the range of 50M - 100M USD. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the COVERFLEXX acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the COVERFLEXX deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://ir.axalta.com/news/press-releases/detail/638/axalta-to-acquire-the-coverflexx-group-a-leading-aftermarket-coatings-business-focused-on-economy-customers-in-north-america

← DATABASE

Home Database Industry & ManufacturingCOVERFLEXX

07/2024

COVERFLEXX acquired by AXALTA COATING SYSTEMS

UNITED STATES Chemicals & Materials / Specialty Chemicals / Paints & Coatings EV 300M - 700M USD

Context

Axalta Coating Systems completed the acquisition of CoverFlexx Group, a subsidiary of Transtar Holding, on July 2, 2024. The transaction represents a bolt-on acquisition aimed at reinforcing Axalta’s footprint in the North American automotive refinish coatings segment. The strategic rationale is anchored in strong product and customer complementarity. CoverFlexx brings a portfolio of value-oriented coatings and aftermarket solutions, allowing Axalta to broaden its offering across the price spectrum and better address economy-focused customer segments. This positioning is particularly relevant in the refinish market, where cost sensitivity and product availability are key purchasing drivers. The integration of CoverFlexx’s brands and capabilities enhances Axalta’s go-to-market strategy and supports incremental penetration in the aftermarket channel. From a value creation standpoint, the transaction is expected to be value-accretive through cross-selling opportunities, expanded distribution reach, and operational synergies across manufacturing and procurement. The addition of CoverFlexx also strengthens Axalta’s scale in a fragmented sector characterized by ongoing consolidation and sustained demand driven by vehicle repair activity.

COVERFLEXX, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Industry & Manufacturing market trends

Target

CoverFlexx Group is a North America-based manufacturer and distributor of coatings and detailing products, with operations in the United States and Canada. The company develops a broad portfolio of automotive refinish and aftermarket solutions, including primers, basecoats, clearcoats, aerosols, fillers, bedliners, and paint shop accessories. Its product suite is marketed under established brands such as Transtar® Autobody Technologies, Pro Form™ and Aftermkt Armor™, targeting primarily value-oriented customers across automotive repair and refinishing end markets. The company operates manufacturing and product development facilities in Michigan and Ontario, supporting a vertically integrated model that combines formulation, production, and distribution capabilities. With a focus on the aftermarket segment, CoverFlexx addresses recurring demand driven by vehicle repair cycles and maintenance needs, providing cost-effective solutions to body shops and professional users.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year

Rev

EBITDA

EBIT

2023

2022

Similar deals in Industry & Manufacturing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
10/2024	TEXEN	QUADPACK INDUSTRIES	SPAIN	Chemicals & Materials	Texen S.A.S., under the umbrella of its parent company PSB Industries, has finalized the acquisition of 100% of Quadpack Industries. The transaction was initiated through the acquisition of a 77.66% controlling block from Eudald Holdings SL and the company's founders, followed by a 9
08/2024	CIMSA	MANNOK	IRELAND	Chemicals & Materials	Cimsa acquired a 94.7% majority stake in Mannok while the local management team retained a 5.3% minority interest to ensure continuity. The transaction provides an exit for the consortium of US hedge funds (led by Brigade Capital Management) that had owned the business since its receivership in 2014
07/2024	CEREA PARTNERS	ISNARD GROUPE	FRANCE	Chemicals & Materials	Cerea Partners acquired a majority stake (approximately two-thirds) in Isnard Groupe, valuing the company between EUR30 million and EUR40 million. The transaction is a classic "Primary LBO" (first time opening capital to PE)
07/2024	FLORAC / CEREA PARTNERS / UNIGRAINS	LABELYS	FRANCE	Chemicals & Materials	Labelys organized a new buy-out to welcome Florac, Cerea, and Unigrains as new shareholders. The management team maintains a significant minority stake (~40% slightly diluted). The primary objective of this EUR200M equity injection is to finance a new wave of acquisitions across Europe
06/2024	SONOCO PRODUCTS COMPANY	EVIOSYS	SWITZERLAND	Chemicals & Materials	Sonoco has entered into a definitive agreement to acquire Eviosys from KPS Capital Partners. This landmark transaction establishes Sonoco as the global leader in metal food can and aerosol packaging, combining Eviosys’s dominant EMEA footprint with Sonoco’s leading position in the United States
06/2024	BLACKSTONE	SEDIVER	FRANCE	Chemicals & Materials	Blackstone acquired a majority stake in Seves Group (Sediver's parent company) from Triton Partners. This deal concludes a 10-year turnaround by Triton, which rescued the group from near-bankruptcy in 2015
05/2024	AXIOM GROUPE	OSMEA	FRANCE	Chemicals & Materials	Axiom Groupe, a logistics and packaging player based in Brittany, continues its national expansion by acquiring Osmea. This acquisition allows Axiom to establish a strong foothold in the South-East of France (Occitanie and PACA regions) and to reinforce its expertise in high-value industrial packaging (crate manufacturing) and industrial transfers
05/2024	GERRESHEIMER	BLITZ LUXCO	ITALY	Chemicals & Materials	Gerresheimer Glas GmbH has signed an agreement to acquire Blitz LuxCo Sarl, the holding company of Bormioli Pharma Group, from the private equity firm Triton. This strategic acquisition significantly strengthens Gerresheimer's footprint in Southern Europe and expands its portfolio of moulded glass and plastic packaging solutions
05/2024	THE NAVIGATOR COMPANY	ACCROL GROUP	UNITED KINGDOM	Chemicals & Materials	The Navigator Company reached an agreement to acquire Accrol Group Holdings through a recommended cash offer. The deal is defensive for Accrol, whose board cited a "challenging future environment" with massive new capacity (500k tonnes) entering the UK market
04/2024	ARCOSA	AMERON	UNITED STATES	Chemicals & Materials	Arcosa has successfully finalized the acquisition of 100% of Ameron Pole Products from NOV Inc. This strategic transaction marks a significant expansion of the organization's Engineered Structures segment, providing an immediate foothold in the attractive concrete and steel lighting pole market

REFERENCES

Valuation range: EV 300M - 700M USD

Revenue range: 50M - 100M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of COVERFLEXX by AXALTA COATING SYSTEMS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: axalta coating systems