Georgia Gulf Corp. announced Wednesday that it has acquired Exterior Portfolio from the Crane Group. The acquisition was made by Georgia Gulf free of debt for approximately $72 million.
Exterior Portfolio is a manufacturer and marketer of siding products and is based in Columbus, Ohio. The company turned in revenues of about $100 million during 2010 and an adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $10.5 million. The company markets siding and accessories under the CranBoard, Portsmouth Shake, Solid CoRe Siding, and Architectural Essentials brands.
"This acquisition supports our growth strategy by providing us with a larger presence in the United States and additional product offerings in the premium siding category, as well as a new customer for the Company's chemicals businesses," said Mark Orcutt, executive vice president of Building Products, Georgia Gulf. "We are pleased to welcome Exterior Portfolio's employees to the Georgia Gulf and Royal Building Products family."
Georgia Gulf is an Atlanta, Ga.-based manufacturer of chemicals as well as vinyl-based construction products, which are marketed under the Royal Group. Georgia Gulf's vinyl products include window and door profiles, mouldings, siding, pipe fittings, deck products, and rail and fence products.