SVPGLOBAL to Acquire Associated MaterialsFebruary 2nd, 2022 by Editor
Associated Materials and global investment firm SVPGLOBAL jointly announced that they have entered into a definitive agreement for funds managed by SVPGLOBAL to acquire Associated Materials.
“Associated Materials is a strong business with some of the top brands in North American siding and windows and is well-positioned in home product markets that are seeing very strong demand today. We are excited by the growth and value creation prospects for Associated Materials and look forward to leveraging SVPGLOBAL’s experience and relationships in the sector as we support the Company’s expansion,” said David Geenberg, the co-head of SVPGLOBAL’s North American Investment Team. “It’s our privilege to shepherd Associated Materials through the next chapter of the Company’s evolution and growth that began with its balance sheet recapitalization in 2020.”
Associated Materials is a vertically integrated building products company with $1.6 billion in annual revenues and a market leader in vinyl windows, vinyl cladding, and metal siding and trim. Once the transaction is completed, which is expected to happen in March, Associated Materials will be a portfolio company of SVPGLOBAL and will continue to provide its customers with the same products and service, while adding new investment into upgrading and broadening the product portfolio.
Associated Materials has been serving its customers since the inception of its Alside brand in 1947. Today it has more than 4,400 employees and operates its own 125 Alside and Gentek supply centers in the United States and Canada along with 11 manufacturing facilities.
“Despite the extraordinary macroeconomic challenges faced over the past 24 months, we have successfully managed this business to achieve strong financial results by continuing to serve our customers, support our employees, and partner with our suppliers. We look forward to working with our soon to be new equity holders SVPGLOBAL and will remain focused on continued growth, adding to our legacy of providing the building materials industry with market-leading innovation, products, and services,” said Brian C. Strauss, Associated Materials president and CEO.
Financial terms of the transaction, which is subject to customary closing conditions, were not disclosed.