Carlyle Quadruples Axalta Bet for Second-Biggest Profit Ever

  • Buyout firm’s carve-out playbook wins deals, drives returns
  • ‘Business was losing share’ under previous owner: dealmaker

When Carlyle Group LP orchestrated a $4.9 billion buyout of DuPont Co.’s auto-paint business in 2013, competitors said the private equity firm overpaid. Three years later, Carlyle has reaped its second-biggest profit ever on the deal.

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