SVPGLOBAL finalizes the acquisition of associated materials
Positions related materials for continued growth and success
CUYAHOGA FALLS, Ohio and GREENWICH, Conn., March 14, 2022 /PRNewswire/ — Associated Materials (the “Company”) and SVPGLOBAL, a global investment firm with over $18 billion of assets under management, today jointly announced that the funds managed by SVPGLOBAL have completed the acquisition of Associated Materials.
Associated Materials is a vertically integrated building products company with $1.6 billion in annual sales and a market leader in vinyl windows, vinyl siding and metal siding and trim. The company has proudly served customers since the inception of its Alside brand in 1947 and today owns other leading brands including Gentek, Alpine and Preservation, and sells popular product models and brands including Mezzo and Regency windows, Ascend and Align composite siding. , Charter Oak and Sequoia Select vinyl siding, and Sierra Steel and Satinwood metal upholstery and trim. Associated Materials has more than 4,400 employees and operates its own 126 Alside and Gentek supply centers in United States and Canada as well as 11 manufacturing plants.
David Geenbergco-head of SVPGLOBAL’s North American investment team, said, “We are excited about Associated Materials’ strong position in growing end markets and are focused on supporting the company throughout of its next chapter of evolution and growth. We look forward to helping the Associated Materials team create value by leveraging SVPGLOBAL’s experience and relationships in the construction products industry.”
President and CEO of Associated Materials, Brian C. Strausssaid, “The Associated Materials team is thrilled to partner with SVPGLOBAL as we further invest in growing our business and continue to provide the best products and services to our customers. We are proud of what our team has been able to accomplish. in integrating Associated Materials into the business it is today and we look forward to continuing to drive value and deliver strong financial results.”
Moelis & Company LLC acted as financial advisor to the Company while Schulte, Roth and Zabel LLP acted as legal advisor to the Company. Rothschild & Co acted as exclusive financial advisor to SVPGLOBAL, and Milbank LLP provided legal advice.
The funds managed by SVPGLOBAL now hold 100% of the capital of Associated Material. Financing for the transaction was led by RBC and Credit Suisse, with participation from UBS, KKR Capital Markets, Macquarie, BMO and PNC. Kirkland & Ellis provided legal advice to SVPGLOBAL with respect to its financing.
About Related Materials
Associated Materials’ mission is to create successful partnerships with contractors, builders, distributors and dealers by supplying, installing and servicing industry-leading 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 relatedmaterials.com.
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. SVPGLOBAL now 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 140 employees, including approximately 60 investment professionals, located in its main offices in Greenwich (CT), London and a presence in Tokyo. Learn more about www.SVPGLOBAL.com.
The statements in this press release regarding this transaction and our future results of operations, financial performance, liquidity and outlook include “forward-looking statements”. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to complete the transaction; our ability to retain key personnel and maintain relationships with suppliers, customers, employees and other third parties after the transaction; the decline of the home renovation and construction industries; and the impact of COVID-19 on the Company’s business, industry and economy generally. Additional information regarding these and other important risks and uncertainties may be found in the Company’s annual and quarterly reports made available to its lenders and noteholders. Although the Company believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, and you are cautioned not to place undue reliance on such forward-looking statements.
Todd Fogarty, Richard Goldman, Emma Young
SOURCE Associated Materials and SVPGLOBAL