Axalta Coating Systems makes high performance coating systems for use on vehicles and in industrial markets.
Berkshire will pay $28 each to buy 20 million shares of Axalta from the private equity firm The Carlyle Group, which will still hold a 45 percent stake in the Philadelphia company after the sale. The stock closed at $28.33 on Monday.
Carlyle Group took the company public last November with an initial public offering of 50 million shares. The stock closed at $20.75 on its first trading day.
Axalta shares are up 4 percent in premarket trading.