Associated Materials to Change Hands in $1.3 Billion DealSeptember 9th, 2010 | Category: Industry News
Associated Materials LLC, based in Cuyahoga Falls, Ohio, announced on September 8 that it has signed a definitive agreement to be acquired by affiliates of Hellman & Friedman LLC. According to a company press release, the transaction is valued at approximately $1.3 billion and is expected to close in the fourth quarter of 2010. Associated Materials is a manufacturer of exterior residential building products including vinyl windows.
“We are excited to be partnering with Hellman & Friedman,” said Tom Chieffe, president and chief executive officer of Associated Materials. “The Hellman & Friedman team has an impressive track record, understands our business and shares our vision for the future of the company. We look forward to working closely with them to pursue our strategic objectives and continue our strong customer focus.”
“With its vertically integrated distribution model and innovative product lines, Associated Materials is uniquely positioned to serve exterior contractors in the remodeling and new construction markets,” added Erik Ragatz, managing director at Hellman & Friedman. “The Company’s outstanding culture and singular focus on helping contractors grow their businesses has resulted in deep customer relationships.
Associated Materials window brands include Alside and Gentek. Hellman & Friedman LLC is a private equity investment firm with offices in San Francisco, New York and London.