M&A Deal Summary

Cornerstone Building Acquires Ply Gem Industries

On November 16, 2018, Cornerstone Building acquired building materials company Ply Gem Industries from Clayton Dubilier & Rice

Acquisition Highlights
  • This is Cornerstone Building’s 3rd transaction in the Building Materials sector.
  • This is Cornerstone Building’s 4th transaction in the United States.
  • This is Cornerstone Building’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2018-11-16
Target Ply Gem Industries
Sector Building Materials
Buyer(s) Cornerstone Building
Sellers(s) Clayton Dubilier & Rice
Deal Type Merger

Target

Ply Gem Industries

Cary, North Carolina, United States
website
Ply Gem Industries, Inc. is a manufacturer of building products in North America. Number one in vinyl siding and in vinyl and aluminum windows, Ply Gem produces a comprehensive product line of windows and patio doors, vinyl and aluminum siding and accessories, designer accents, cellular PVC trim and mouldings, vinyl fencing and railing, stone veneer, roofing and gutterware products, used in both new construction and home repair and remodeling across the United States and Canada.

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Buyer(S) 1

Buyer

Cornerstone Building

Cary, North Carolina, United States

website


Category Company
Founded 1984
SectorBuilding Materials
Employees20,500
Revenue 4.6B USD (2020)
DESCRIPTION

Cornerstone Building is an integrated manufacturer of metal products for the nonresidential building industry. Cornerstone Building was formed in 1984 and is based in Cary, North Carolina.


DEAL STATS #
Overall 4 of 9
Sector (Building Materials) 3 of 8
Type (Merger) 1 of 1
State (North Carolina) 1 of 2
Country (United States) 4 of 9
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-10 CENTRIA

Moon Township, Pennsylvania, United States

CENTRIA, Inc. engages in the design, engineering, and manufacturing of architectural insulated metal panel (IMP) wall and roof systems and a provider of integrated coil coating services for the nonresidential construction industry. CENTRIA, which generates over 85% of its revenue in North America, is an industry leader in the creation of buildings that are aesthetically desirable, functional and sustainable.

Buy $245M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 Environmental Materials

Denver, Colorado, United States

Environmental Materials LLC designer, manufacturer, and installer of stone veneer products. EM sells its products and services under the Environmental StoneWorks brand mainly to residential and commercial builders in several regions throughout the United States.

Buy $187M

Seller(S) 1

SELLER

Clayton Dubilier & Rice

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


DEAL STATS #
Overall 32 of 42
Sector (Building Materials) 3 of 3
Type (Merger) 1 of 1
State (North Carolina) 3 of 3
Country (United States) 23 of 32
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 SmileDirectClub

Nashville, Tennessee, United States

SmileDirectClub was founded on a simple belief: Everyone deserves a smile they love. Recognizing an opportunity to increase access to dental care, the company pioneered the creation of cutting-edge platforms and technology for doctor-directed, at-home aligner therapy. With a digital network of more than 200 affiliated licensed dentists and orthodontists overseeing customer treatment plans, from impressions made with an at-home kit or from a digital scan at one of the 150 SmileShops across the United States, SmileDirectClub has made orthodontic solutions more affordable and convenient than ever before. SmileDirectClub was founded in 2014 and is headquartered in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 WSH

Reading, United Kingdom

Westbury Street Holdings is an independent food and hospitality services provider. The company operates a chef-led model promoting high quality fresh food and locally sourced ingredients. WSH serves customers in the Business & Industry, Education, and Concession & Hospitality catering segments through its portfolio of brands, which include BaxterStorey, Benugo, Caterlink, Holroyd Howe, Portico, and Searcys.

Buy -