Highlander Partners to Acquire Versatex Building ProductsSeptember 4th, 2014 by Editor
Highlander Partners will acquire Versatex Building Products of Pittsburgh. Founded in 2003, Versatex is a provider of cellular PVC building products serving both the new construction and renovation/remodel markets.
Versatex will continue to operate under its existing operating structure with its current management team. Current chairman and co-founder, Jim Wolf will continue with the board of managers and also as an owner in the company.
“I am excited to partner with Highlander Partners to continue to grow Versatex and build upon our company’s success,” Wolf says. “As a leader and innovator in the PVC building materials space and look forward to continuing as a shareholder and board member.”
Jeff L. Hull, Highlander’s managing partner and newly-appointed chairman, says, “We could not be more thrilled to partner with the Versatex team, who in the company’s 10-year history have established a strong brand and leading market presence. We look forward to supporting their vision as being at the forefront of innovation in the building materials space and continue expanding the company’s presence throughout the United States and abroad as cellular PVC continues to gain adoption and take share in the market.”
Craig-Hallum Capital Group served as the exclusive financial advisor to Versatex in connection with this transaction. Texas Capital Bank and Comerica Bank provided senior financing facilities and AEA Mezzanine Fund III LP provided mezzanine debt in support of the transaction.