BASF and funds managed by global investment firm Carlyle (NASDAQ: CG), in partnership with Qatar Investment Authority (QIA), have entered into a binding agreement relating to BASF\u2019s automotive OEM coatings, automotive refinish coatings, and surface treatment businesses (\u201cBASF Coatings\u201d).<\/p>\n\n\n\n
The enterprise value of the transaction amounts to \u20ac7.7 billion. Subject to customary regulatory approvals, the transaction is expected to close in Q2 2026. This transaction, together with the already closed divestiture of the decorative paints business, value BASF\u2019s entire Coatings division at an enterprise value of \u20ac8.7 billion and an implied 2024 EV\/EBITDA multiple before special items of approx. 13x. This represents a significant step in unlocking the value of BASF\u2019s standalone businesses, as the company swiftly executes its Winning Ways strategy. BASF will also reinvest in the coatings business holding a 40% equity stake and will receive pre-tax cash proceeds of approx. \u20ac5.8 billion at closing of the transaction.<\/p>\n\n\n\n
BASF Coatings is a global player in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The business operates in Europe, North America, South America and Asia Pacific, and generated sales of approx. \u20ac3.8 billion in 2024.<\/p>\n\n\n\n
Working closely alongside management, Carlyle will support the future growth of the business through investing in its commercial capabilities, innovation pipeline, and organizational structure to enhance customer focus. Carlyle will leverage its strong track record and extensive experience in successful carve-outs of industrial and chemical assets, following previous investments in Axalta, Atotech, and Nouryon.<\/p>\n\n\n\n
\u201cWe are delighted to partner with Carlyle, whose sector expertise, carve-out capabilities and collaborative approach will help position BASF Coatings for long-term success,\u201d said Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF SE<\/strong>. \u201cBy retaining an equity stake, we are showing our belief in Coatings\u2019 future value creation and upside potential. The passion, expertise, and customer focus of our Coatings team is what makes this business outstanding.\u201d<\/p>\n\n\n\n \u201cThe transaction announced today opens a new chapter of opportunity for BASF Coatings, building on today\u2019s success and shaping an even stronger future,\u201d said Anup Kothari, member of the Board of Executive Directors of BASF SE <\/strong>and responsible for the Coatings division.<\/p>\n\n\n\n \u201cBASF Coatings is an exceptional platform with leading technologies, a world-class management team, strong customer partnerships, and a truly global footprint,\u201d said Martin Sumner, Global Head of Industrials, and Tanaka Maswoswe, Partner at Carlyle<\/strong>. \u201cWe see compelling opportunities to leverage our global platform to support the business becoming an established independent leader. This transaction exemplifies Carlyle\u2019s ability to execute complex carve-outs in partnership with leading global corporates.\u201d<\/p>\n\n\n\n \u201cQIA is pleased to partner with Carlyle to support the next phase of BASF Coatings\u2019 continued growth,\u201d said Mohammed Al-Sowaidi, CEO of QIA<\/strong>. \u201cThis investment aligns with QIA\u2019s approach of investing in industry leaders and is testament to our belief in the long-term resilience of German businesses.\u201d<\/p>\n\n\n\n Business continuity for customers will be ensured throughout the transaction process. In accordance with legal requirements and local practice, employee representatives will be involved.<\/p>\n\n\n\n Picture: BASF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" BASF and funds managed by global investment firm Carlyle (NASDAQ: CG), in partnership with Qatar Investment Authority (QIA), have entered into a binding agreement relating to BASF\u2019s automotive OEM coatings, automotive refinish coatings, and surface treatment businesses (\u201cBASF Coatings\u201d). The […]<\/p>\n","protected":false},"author":2,"featured_media":16495,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[54,24,1133],"tags":[],"_links":{"self":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16493"}],"collection":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/comments?post=16493"}],"version-history":[{"count":1,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16493\/revisions"}],"predecessor-version":[{"id":16496,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16493\/revisions\/16496"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media\/16495"}],"wp:attachment":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media?parent=16493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/categories?post=16493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/tags?post=16493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}