BASF spins out its coatings division as Surventis

BASF has completed the sale and carve-out of its coatings business, creating a new standalone company called Surventis following the close of its transaction with global investment firm Carlyle.

The transaction, first announced in October 2025, officially closed on June 30 after receiving all required regulatory approvals. BASF has sold a 60% stake in the business to Carlyle while retaining a 40% equity interest in the newly established company.

Surventis will operate independently from July 1, bringing together BASF's automotive OEM coatings, automotive refinish coatings and surface treatment businesses, including the Chemetall brand. The business had annual sales of approximately €3.7 billion in 2025 and serves customers in the automotive and industrial sectors worldwide.

Ahead of the transaction closing, BASF Coatings announced the executive committee that will lead the new business. Jens Luehring has assumed the role of chief executive officer, succeeding Dr. Uta Holzenkamp, who led the coatings business through the separation process. The leadership team combines long-serving coatings executives with senior leaders in finance, digitalization and business transformation.

The deal forms part of BASF's wider strategy to focus on its core businesses while allowing the coatings operation to pursue growth as an independent company with Carlyle's backing. The transaction values the coatings business at an enterprise value of approximately €7.7 billion, with BASF receiving around €5.8 billion in cash before tax while maintaining its minority ownership position.

The European Commission approved the transaction in June, subject to commitments designed to preserve competition in the market for polysulfides used in aerospace sealants.

“This successful closing marks a key milestone in the execution of our Winning Ways strategy aimed at unlocking the value of our standalone businesses,” said Dr. Markus Kamieth, chairman of the Board of Executive Directors of BASF SE. “By holding a 40% equity stake, we will continue to participate in the future value creation of the coatings business while sharpening BASF’s strategic focus.”

“We are convinced that the new ownership structure provides an excellent foundation for future profitable growth of Surventis,” said Anup Kothari, member of the Board of Executive Directors of BASF SE. “We wish the former BASF Coatings employees every success as they move forward into their future as an independent company.”

As a side note: the companies failed to secure the domain name surventis.com, which currently points to a political blog, and the domain was originally registered in 2013, some 13 years before BASF Coatings filed a trademark with the European Union Intellectual Property Office.

Photo: NIO ES8 – Full aluminum car body with BASF Oxsilan thin film pretreatment, CathoGuard 800 e-coat, waterborne primer, waterborne basecoat and a two component clear coat. Credit: BASF

Surventis