Associated Materials LLC, the exterior building products manufacturer and distributor whose brands include Alside, Revere, and Gentek, has agreed to be acquired for roughly $1.3 billion by affiliates of the investment firm Hellman & Friedman.
Hellman & Friedman is buying Associated from its current majority owners, Harvest Partners and Investcorp. The deal should close in the fourth quarter, said Cuyahoga Falls, Ohio-based Associated, which makes vinyl windows, vinyl siding, vinyl fendings and railing, aluminum trim coil, aluminum and steel siding and accessories.
"The Hellman & Friedman team has an impressive track record, understands our business and shares our vision for the future of the company," Tom Chieffe, Associated's president and chief executive officer, said in a statement issued Wednesday, Sept. 8. " We look forward to working closely with them to pursue our strategic objectives and continue our strong customer focus."
Associated markets its products through 119 company-operated stores and roughly 250 independent distributors across the United States and Canada. It says it serves more than 50,000 independent contractors.
Hellman & Friedman has invested in companies across a variety of industries. Recent investments include Goodman Global Inc., Kronos Inc., Emdeon Business Services, Catalina Marketing Corp., and Getty Images.