Berkshire Hathaway revealed that it will acquire 10% stake in Axalta Coating Systems from subsidiaries of the Carlyle Group. According to the company, it will pay close to $560 million for the acquisition.

Berkshire Hathaway is aiming to boost its exposure in the industrial and auto space. Axalta Coating Systems builds high performance coating systems to be used on cars and other industrial markets. It has been reported that the company is going to pay close to $28 per share for 20 million shares. Berkshire Hathaway will not sell the company's shares for 90 days post the acquisition.

The Carlyle Group will continue to hold close to 45% stake in Axalta Coating Systems. According to CEO of Axalta Coating Systems, the investment by Berkshire is a sign that the company is opting the right strategies for its growth.

The CEO of Axalta Coating Systems is very happy to have Berkshire Hathaway onboard. According to experts, Berkshire Hathaway has been investing in automobile ancillary companies during the past few years. Axalta has offered 45% return to investors through Monday since going public at $19.50 a share in November. Axalta is the second-largest auto ancillary company in its segment.

"Berkshire is the type of quality investor that Axalta has been fortunate to attract since our IPO last year", said Axalta Chief Executive Officer Charlie Shaver.

Axalta, the world's biggest supplier of coatings to auto-repair shops, registered $4.39 billion in revenue during 2014. The company is also a market leader in the coating industry.