SVP Global buys siding, window maker Associated Materials
SVP Global, a Greenwich, Connecticut-based investment firm, acquires Associated Materials LLC, based in Cuyahoga Falls, Ohio, a building products manufacturer with annual revenue of $1.6 billion. dollars, 11 production sites and 4,400 employees.
Associated Materials began in 1947 selling aluminum siding, then added other products, such as windows, vinyl siding, and composite siding under brands like Alside, Gentek, Alpine, and Preservation.
In 2021, the company’s Alside Ascend composite siding was named “Most Innovative Building Material” at the 2021 Virtual International Builders Show hosted by the National Association of Home Builders.
Ascend combines glass-reinforced polymer with graphite-infused polystyrene to produce a Class A fire-retardant coating that also resists high winds and impact.
With plastic profile sales estimated at $335 million, Associated Materials is the 15th largest pipe, profile and tube extruder in North America, according to Plastics News’ last ranking, and was #6 among profile processors.
Three of the company’s 11 plants manufacture plastic products: in West Salem, Ohio; Ennis, Texas; and Burlington, Ontario.
Associated Materials also has approximately 125 supply centers.
The company has done well during the pandemic, according to Associated Materials President and CEO Brian Strauss.
“Despite the extraordinary macroeconomic challenges faced over the past 24 months, we have successfully managed this business to deliver strong financial results by continuing to serve our customers, support our employees and partner with our suppliers,” said Strauss. in a press release.
The new owners plan to expand the business, according to David Geenberg, co-head of SVP Global’s North American investment team.
“Associated Materials is a strong company with some of North America’s leading siding and window brands and is well positioned in the home goods markets that are seeing very high demand today,” Geenberg said. “We are excited about the prospects for growth and value creation for Associated Materials and look forward to leveraging SVP Global’s industry experience and relationships as we support the company’s expansion. »