Axalta Coating Systems, a global supplier of liquid and powder coatings, announced that it has entered into definitive agreements to acquire U-Pol Holdings Limited from Graphite Capital Management LLP and other holders for £428 million subject to certain adjustments set forth in the Sale and Purchase Agreements for the transaction. Founded in 1948 and based in the United Kingdom, U-Pol is a manufacturer of repair and refinish products used primarily for automotive refinish and aftermarket protective applications. The business produces a wide range of high-quality automotive refinishing products and accessories including fillers, coatings, aerosols, adhesives, and paint related products as well as other automotive aftermarket protective coatings. U-Pol sells its products in over 100 countries. Axalta will accelerate growth of U-Pol’s products by expanding market access through Axalta’s existing sales and distribution channels while leveraging U-Pol’s distribution channels to extend the reach of its Refinish Coatings portfolio to new customers. The transaction is expected to close in the second half of 2021, subject to clearance under applicable antitrust laws and other customary closing requirements.