Transtar Holding Company announced that global coatings company Axalta Coating Systems has signed a definitive agreement to acquire its subsidiary The CoverFlexx Group. The transaction is anticipated to close in the third quarter, pending regulatory approval and customary closing conditions, Transtar Holding Company said.
The strategic move allows Transtar Holding Company to focus exclusively on the growth of NexaMotion Group, a portfolio of technology-driven automotive aftermarket businesses that offer a complete suite of mechanical auto repair products and industry-leading e-commerce solutions, the company said.