M&A Deal Summary

GAF Materials Acquires Icopal AS

On January 25, 2016, GAF Materials acquired building materials company Icopal AS from Investcorp International and Intermediate Capital Group for 1.0B EUR

Acquisition Highlights
  • This is GAF Materials’ 3rd transaction in the Building Materials sector.
  • This is GAF Materials’ 0th largest (disclosed) transaction.
  • This is GAF Materials’ 1st transaction in Denmark.

M&A Deal Summary

Date 2016-01-25
Target Icopal AS
Sector Building Materials
Buyer(s) GAF Materials
Sellers(s) Investcorp International
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 1.0B EUR

Target

Icopal AS

Herlev, Denmark
website
Icopal AS is an international manufacturer of flat roofing materials. The Company also provides products and solutions for the residential roofing, building membranes, below grade waterproofing and civil engineering markets. Icopal operates 36 state-of-the-art production sites, employs approximately 3,500 employees worldwide.

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Buyer(S) 1

Buyer

GAF Materials

Parsippany, New Jersey, United States

website


Category Company
Founded 1886
Sector Building Materials
Employees3,700
DESCRIPTION
Entrance to GAF's corporate headquarters in Parsippany, New Jersey.
Entrance to GAF's corporate headquarters in Parsippany, New Jersey.

GAF Materials is a provider of roof system solutions. The Company was established in 1886 and is headquartered in Parsippany, New Jersey.


DEAL STATS #
Overall 3 of 4
Sector (Building Materials) 3 of 4
Type (Add-on Acquisition) 3 of 4
Country (Denmark) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-28 Correct Building Products

Biddeford, Maine, United States

Correct Building Products, the manufacturer of CorrectDeck decking and accessories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 FT Synthetics

Langley, British Columbia, Canada

FT Synthetics is a fully integrated manufacturer of coated woven fabrics, with a dedicated focus of developing industry-leading new and unique underlayment products designed for the steep slope roofing industry. This includes North American-based operations with advanced equipment for non-woven manufacturing, adhesive application, weaving, coating, lamination, and flexographic printing. FT Synthetics was founded in 2013 and is based in Langley, British Columbia.

Buy -

Seller(S) 2

SELLER

Investcorp International

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1982
PE ASSETS 21.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp International, Inc. is a publicly traded global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 74 of 106
Sector (Building Materials) 4 of 5
Type (Add-on Acquisition) 36 of 47
Country (Denmark) 1 of 1
Year (2016) 1 of 9
Size (of disclosed) 4 of 43
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 SecureLink NV

Sliedrecht, Netherlands

SecureLink NV is one of the largest independent cybersecurity services providers in Europe, with on-the-ground presences in Sweden, Belgium, the Netherlands, the UK, Germany, Denmark and Norway. Founded in 2003, SecureLink provides a full range of cybersecurity services to support its clients. Its offering includes specialized security consulting, security maintenance and support with 24/7 service desks (SOCs) as well as advanced managed detection and response capabilities (MDR).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-01 Veritext

Costa Mesa, California, United States

Veritext is a pre-trial deposition services provider in the United States, offering end-to-end services for law firms and corporate clients. Veritext connects its clients to its network of independent court contractors, including court reporters, videographers, and interpreters, to help administer more depositions per year than any other provider. Veritext is based in Costa Mesa, California.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 169 of 217
Sector (Building Materials) 5 of 9
Type (Add-on Acquisition) 48 of 67
Country (Denmark) 5 of 5
Year (2016) 4 of 15
Size (of disclosed) 18 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 Gaucho Grill

London, United Kingdom

Gaucho Grill offers fine dining with an emphasis on authentic, high quality, Argentinian steaks and an extensive wine list. It has 14 restaurants in the UK and three international restaurants, one in each of Buenos Aires, Dubai and Hong Kong.

Sell £100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-22 Feu Vert

Ecully, France

Feu Vert is a provides network of 450+ maintenance & repair autos centers spread over France, Spain, and Portugal. Feu Vert business covers both the workshop activity which accounts for the bulk of its business, as well as the distribution of car spare parts and accessories. Feu Vert was founded in 1972 and is based in Madrid, France.

Sell -