The AZEK Company acquired StruXure Outdoor, a designer and manufacturer of aluminum pergolas and cabanas. The acquisition expands AZEK’s position in the broader outdoor living category and adds to its portfolio of products.
“We are excited to announce AZEK’s acquisition of StruXure as we expand into this natural market adjacency and continue to build leading positions across the large and growing outdoor living category,” Jesse Singh, CEO of the AZEK Company, said in a news release. “Pergolas and cabanas are a nearly $1 billion market opportunity and StruXure, along with our TimberTech products, adds another element to homeowners’ creation of beautiful, low maintenance, and sustainable outdoor living spaces.”
StruXure delivered net sales of approximately $50 million in 2021 and has been named to the Inc. 5000 Fastest-Growing Private companies list for seven consecutive years.
“We believe this acquisition will leverage the collective strengths of both StruXure and TimberTech, enabling synergies that will provide our customers with a more complete outdoor living solution, while expanding StruXure’s margins over time and ultimately driving accelerated growth for both AZEK and StruXure,” Singh said. “
AZEK said the acquisition opens up new customer segments for the company and enables increased cross-marketing and cross-selling to AZEK’s existing partners and customers. The company said StruXure’s pergolas are complementary to TimberTech’s existing outdoor living products, drive wood conversion, and are already being installed together by contractors in North America.
“We are proud to have built a company with a strong brand known for innovative, high-quality products, and we’re excited for this partnership with AZEK,” StruXure founder and CEO Scott Selzer, said. “We believe that StruXure will achieve growth in ways we couldn’t otherwise, particularly as we broaden our position with AZEK’s and TimberTech’s existing loyal customer base and explore additional material conversion opportunities.”
Both StruXure’s existing product lines are made from up to 50% recycled aluminum and support AZEK’s commitment to ESG stewardship and its strategy to accelerate the use of recycled material in the industry, according to the company.
StruXure will operate as a wholly-owned subsidiary of The AZEK Company and Selzer will continue to lead StruXure’s day-to-day operations. StruXure will become a part of The AZEK Company’s residential segment financial reporting and AZEK estimates StruXure will generate approximately $40 million of revenue for the remainder of AZEK’s fiscal 2022.
