Associated Materials LLC appoints James Drexinger as Managing Director
CUYAHOGA FALLS, Ohio, June 7, 2022 /PRNewswire/ — Associated Materials LLC, a vertically integrated building products company that is a market leader in vinyl windows, vinyl siding and metal siding and trim, today announced the appointment of James Drexinger as Chief Executive Officer, with immediate effect. Mr. Drexinger succeeds Brian Strausswho has served as President and CEO of Associated Materials since 2014.
Mr. Drexinger is a recognized senior executive in the building products industry, respected for his ability to drive operational excellence, capture market share and improve the customer experience. Most recently, Mr. Drexinger served as Managing Director of American Construction Source (ACS), a leading national building materials distribution platform and manufacturer of value-added products for new home builders and contractors. in repair and renovation. Under Mr. Drexinger’s direction, ACS achieved $1 billion in current revenues with gross margins and EBITDA above those of the market. The company also experienced significant growth during Mr. Drexinger’s tenure, both organically and through multiple strategic acquisitions.
Prior to his role at ACS, Mr. Drexinger served as Division President and Executive Vice President of Stock Building Supply. Mr. Drexinger has also held leadership positions at Wolseley North America, NIBCO and Armstrong World Industries.
Mr. Drexinger, President and CEO of Associated Materials, said, “I look forward to leading the Associated Materials team and driving the company forward. As Associated Materials enters its 75e year of operation, there is a unique opportunity to reflect on our success, while making significant investments and renewing key elements of our business and organization to position them for even greater success. »
“I am extremely proud to have led Associated Materials,” said Mr. Strauss. “I know Jim has had an outstanding career in the building products industry, and I wish him and the entire team at Associated Materials the best of luck as they continue to drive the ‘company.”
In March 2022Associated Materials was acquired by funds managed by Strategic Value Partners, LLC and its affiliates (“SVPGlobal”), a global investment firm with more than $18 billion of assets under management. Since the acquisition, Associated Materials has made significant investments in upgrading and expanding the capabilities of the business.
David Geenbergco-head of SVPGlobal’s North American investment team, said, “On behalf of the entire Associated Materials organization, I would like to thank Brian for his dedication and service, as well as his commitment managing Associated Materials for the past eight years. to great success as a company with great products and customer loyalty. We are fortunate to have someone with Jim’s skills, vision and deep industry expertise to lead Associated Materials through its next phase of growth. We are delighted to welcome Jim to Associated Materials and look forward to benefiting from his leadership as we invest to take the company’s operations, customer experience and employee engagement to new heights in a very promising future. for the company. »
About Related Materials
Associated Materials LLC, a vertically integrated building products company with $1.6 billion in revenue, is a market leader in vinyl windows, vinyl siding, and metal siding and trim. Its mission is to create successful partnerships with contractors, builders, distributors and dealers by supplying, installing and servicing state-of-the-art exterior construction products and solutions. The company helps its partners create or restore exceptional residential, multi-family and light commercial structures that are energy efficient, comfortable, durable and beautiful to the home or building owner. The company operates 11 manufacturing plants in United States and Canada, which produces vinyl windows, vinyl and composite siding and accessories, and metal building products. The company also operates 126 supply centers across United States and Canada under the Alside® and Gentek® brands, respectively. For more information, visit www.associatedmaterials.com.
About SVP Global
Strategic Value Partners, LLC and its affiliates (“SVPGlobal”) is a global investment firm focused on events, special situations, private equity and funding opportunities. The company uses a combination of procurement, financial and operational expertise to unlock value in complex situations. Today, SVPGlobal manages more than $18 billion of assets under management and, since its creation, has invested close to $41 billion capital, of which approximately $17 billion in Europe. The company, founded by Victor Khosla in 2001, has approximately 145 employees, including approximately 65 investment professionals, located in its main offices in Greenwich (CT), London and a presence in Tokyo. Learn more about www.SVPGlobal.com.
Todd Fogarty, Richard M. GoldmanEmma Young
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SOURCE SVP Global; Associated materials