SVPGLOBAL Completes Acquisition of Associated Materials

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 funds managed by SVPGLOBAL completed the acquisition of Associated Materials.

Associated Materials is a vertically integrated building products company with $1.6 billion in annual revenues and a market leader in vinyl windows, vinyl cladding, and metal siding and trim. The Company has been proudly serving its 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 cladding, Charter Oak and Sequoia Select vinyl siding, and Sierra Steel and Satinwood metal siding and trim. Associated Materials has over 4,400 employees and operates its own 126 Alside and Gentek supply centers in the United States and Canada along with 11 manufacturing facilities.

David Geenberg, the Co-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 through 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 across the building products sector."

Associated Materials President & CEO, Brian C. Strauss, remarked, "The Associated Materials team is excited to partner with SVPGLOBAL as we further invest in growing our business and continue to provide best-in-class products and service to our customers. We are proud of what our team has been able to accomplish in building Associated Materials into the company it is today and look forward to continuing to generate value and achieve strong financial results."

Moelis & Company LLC acted as financial advisor to the Company while Schulte, Roth and Zabel LLP served as the Company's legal counsel. Rothschild & Co acted as exclusive financial advisor to SVPGLOBAL, and Milbank LLP provided legal counsel.

Funds managed by SVPGLOBAL now own 100% of Associated Material's equity. Financing for the transaction was led by RBC and Credit Suisse, with UBS, KKR Capital Markets, Macquarie, BMO and PNC participating. Kirkland & Ellis provided legal counsel to SVPGLOBAL in regards to its financing.

About Associated Materials
Associated Materials' mission is to create successful partnerships with contractors, builders, distributors, and dealers by providing, installing, and servicing industry leading exterior building products and solutions. The Company helps partners create or restore exceptional residential, multi-family, and light commercial structures that are energy-efficient, comfortable, long-lasting, and beautiful for the home or building owner. The Company operates 11 manufacturing facilities in the United States and Canada, which produce vinyl windows, vinyl & composite siding and accessories, and metal building products. The Company also operates 126 supply centers across the United States and Canada under the Alside® and Gentek® brands, respectively. For more information, visit associatedmaterials.com.

About SVPGLOBAL
Strategic Value Partners, LLC and its affiliates ("SVPGLOBAL") is a global investment firm that focuses on event-driven, special situations, private equity and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in complex situations. Today SVPGLOBAL manages more than $18 billion in assets under management, and since inception, has invested almost $41 billion of capital, including approximately $17 billion in Europe. The firm, established by Victor Khosla in 2001, has approximately 140 employees, including approximately 60 investment professionals, across its main offices in Greenwich (CT), London and a presence in Tokyo. Learn more at www.SVPGLOBAL.com. 

Forward-Looking Statements
Statements in this press release regarding this transaction and our future results of operations, financial performance, liquidity and prospects 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 in such forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to close the transaction; our ability to retain key personnel and maintain relationships with suppliers, customers, employees and other third parties following the transaction; declines in remodeling and home building industries; and the impact of COVID-19 on the Company's business, industry and the economy generally. Additional information concerning these and other important risks and uncertainties can be found in the Company's annual and quarterly reports made available to its lenders and noteholders. While 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 unduly rely on such forward-looking statements.

Media Contacts:

Todd Fogarty, Richard Goldman, Emma Young
Kekst CNC
[email protected] 
(212) 521-4800

SOURCE Associated Materials and SVPGLOBAL

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