Koch Industries, Inc., has acquired Guardian Industries Corp., which owns Guardian Building Products, the companies announced today in a joint press release.

The acquisition will allow Koch to takeover "the remaining 55.5% outstanding shares of Guardian Industries' common stock not already owned by affiliates of Koch." It is a cash transaction and is expected to close during the first quarter of 2017.

"Working with Guardian's dedicated employees has proven to be a rewarding experience," Dave Robertson, president and COO of Koch said in the release. "We look forward to combining the strengths and capabilities of Guardian and Koch to better meet the needs of our customers."