U-POL Australia General Manager Damian Cappelluti has issued a statement saying the local business is not directly affected by the Axalta acquisition of U-POL’s parent company, as reported by BodyShop News last week.
Cappelluti said U-POL Australia, which has been the exclusive importer/distributor of U-POL products, including the Raptor product range, in Australia for almost 25 years, is not a direct participant in the Axalta acquisition.
“U-POL Australia Pty Ltd is not a subsidiary of U-POL Ltd (UK); it is a separately-owned private family company,” said Cappelluti.
“From our customers’ perspective, we see business continuing as usual and we look forward to working to support and build U-POL brands and ensuring that innovations and product developments that arise out of this exciting acquisition are made available to you. The purchase is in the very early stages and we understand that it will take at least eight to 10 weeks to get the necessary regulatory approvals to complete.”