Associated Materials to be Sold for $1.3 Billion
The manufacturer of Alside brand windows and siding, Associated Materials LLC, is being acquired by Hellman & Friedman LLC, a private equity investment firm with offices in San Francisco, New York and London. Investcorp and Harvest Partners, current owners of Associated Materials, plan to sell the company in a transaction valued at approximately $1.3 billion.
"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," says Erik Ragatz, Hellman & Friedman managing director. "The company's outstanding culture and singular focus on helping contractors grow their businesses has resulted in deep customer relationships. We are extremely pleased to have the opportunity to partner with Tom and the rest of the management team at Associated Materials."
"We are excited to be partnering with Hellman & Friedman," says Tom Chieffe, Associated Materials president and CEO. "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."
A Window & Door Top 100 Manufacturer, Associated Materials reported total sales of $1.05 billion and vinyl windows sales of approximately $390 milion for its 2009 fiscal year. Based in Cuyahoga Falls, Ohio, the vertically-integrated manufacturer and distributor of exterior residential building products in the United States and Canada, the company offers vinyl windows, vinyl siding, aluminum and steel siding, and accessories under the Alside, Revere and Gentek brand names. Its products are marketed on a wholesale basis to more than 50,000 independent contractors through a network of 119 company-operated supply centers and approximately 250 independent distributors across the U.S. and Canada, it reports.