The AZEK Company To Acquire Versatex
Combination Will Further Accelerate Growth of AZEK's Building Envelope Business
SKOKIE, Ill., May 29, 2018 /PRNewswire/ -- The AZEK Company ("AZEK"), an industry-leading manufacturer of beautiful, low-maintenance residential and commercial building products, today announced that it has signed a definitive agreement to acquire Versatex, a leading innovator and manufacturer of highly engineered cellular PVC products, providing AZEK with an additional growth platform for expanding the company's building envelope offerings.
Versatex manufactures and sells high-quality, premium branded exterior trim, sheet, mouldings and other innovative products with an expanding range of building applications. Similar to AZEK, Versatex has developed a business with strong brands that stand for quality and customer-oriented innovation.
Jesse Singh, Chief Executive Officer, AZEK said, "AZEK's acquisition of Versatex will further expand and diversify our broad portfolio of high-quality home exterior and outdoor living products that help contractors, builders, developers and homeowners beautify homes. Versatex's focus on exterior trim and mouldings will complement our presence in exterior decking, trim, mouldings and columns, and Versatex's strength in sales execution will be a strong counterpart to our R&D and material science capabilities."
"Versatex shares our values, with a focus on high quality and differentiated products. The expansion of our product line and added R&D and marketing resources will enable us to better serve our customers and dealers with innovative products, while positioning us to continue to benefit from the ongoing shifts in customer preference towards alternative materials. It is our plan to maintain Versatex's go-to-market approach and existing distribution model post-close," Singh added.
John Pace, CEO, Versatex, said, "Our companies have complementary strengths as well as a shared commitment to premium quality, customer service and product innovation. We look forward to working together with AZEK to address the opportunities that alternative materials offer the building envelope market."
Closing is subject to regulatory review. Terms of the transaction were not disclosed.
CONTACTS
Jonathan Skelly
The AZEK Company
847-626-1545
[email protected]
ABOUT THE AZEK COMPANY
The AZEK Company LLC is an industry-leading manufacturer of beautiful, low-maintenance residential and commercial building products, committed to innovation, sustainability and research and design. Headquartered in Skokie, IL, in the greater Chicago area, the company also operates highly automated manufacturing facilities in Scranton, PA, and Wilmington, OH. The company's products are marketed under several brands, including AZEK® and TimberTech® for residential building materials, Scranton Products for commercial building materials, and Vycom for industrial building materials. For additional information, visit azekco.com.
ABOUT VERSATEX
Versatex manufactures and sells high-quality, premium branded exterior trim, sheet, mouldings and other innovative products with an expanding range of building applications. The company was founded in 2003 and is based in Aliquippa, PA. For additional information, visit versatex.com.
SOURCE The AZEK Company
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