M&A Deal Summary

American Industrial Partners Acquires AHF Products

On November 15, 2018, private equity firm American Industrial Partners acquired building materials company AHF Products from Armstrong Flooring for 100M USD

Acquisition Highlights
  • This is American Industrial Partners’ 3rd transaction in the Building Materials sector.
  • This is American Industrial Partners’ 10th largest (disclosed) transaction.
  • This is American Industrial Partners’ 33rd transaction in the United States.
  • This is American Industrial Partners’ 2nd transaction in Pennsylvania.
Investment Fate
  • AHF Products was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2018-11-15
Target AHF Products
Sector Building Materials
Buyer(s) American Industrial Partners
Sellers(s) Armstrong Flooring
Deal Type Divestiture
Deal Value 100M USD

Target

AHF Products

Mountville, Pennsylvania, United States
AHF Products manufactures solid and engineered hardwood flooring products that are sold through full-line flooring distributors, big-box home centers, national flooring retailers, and hardwood specialty distributors under the well-known brand names of Armstrong, Bruce, Capella, Homerwood, Robbins, and T. Morton. AHF Products was founded in 2019 and is based in Mountville, Pennsylvania.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.


DEAL STATS #
Overall 38 of 53
Sector (Building Materials) 3 of 3
Type (Divestiture) 12 of 19
State (Pennsylvania) 2 of 3
Country (United States) 33 of 46
Year (2018) 5 of 5
Size (of disclosed) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 GE Current

Cleveland, Ohio, United States

GE Current is a design, source, and assemble, lamp and lighting fixture business focused on retrofit applications that pull through complementary controls and software. The company is comprised of two main segments. The Professional segment manufactures LED retrofit kits, LED and conventional lamps, and LED fixtures for commercial, industrial, outdoor and roadway applications. The Intelligent Buildings Segment integrates sensors and controls to enable an open, cloud-based platform of apps for customer productivity and energy management in buildings. Current also develops patent-protected proprietary phosphors with premium color quality and differentiated performance that are used in LED chips, screens, and fluorescent lamps.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-25 Contiweb

Boxmeer, Netherlands

Contiweb is a manufacturer of auxiliary equipment for offset printing for global markets as well as aftermarket sales and service provider for over 3,000 of its machines installed across a global customer base of commercial printers. Contiweb was founded in 1978 and is based in Boxmeer, Netherlands.

Sell -

Seller(S) 1

SELLER

Armstrong Flooring

Lancaster, Pennsylvania, United States

Category Company
Founded 1860
Sector Building Materials
Employees1,568
Revenue 650M USD (2021)
DESCRIPTION

Armstrong Flooring is a global producer of flooring products for use primarily in the construction and renovation of residential, commercial and institutional buildings. The Company designs, manufactures, sources and sells resilient and wood flooring products in North America and the Pacific Rim. Armstrong Flooring was founded in 1860 and is based in Lancaster, Pennsylvania.


DEAL STATS #
Overall 1 of 1
Sector (Building Materials) 1 of 1
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-12 Mannington Mills - Vinyl Composition Tile

Salem, New Jersey, United States

Mannington Mills, Inc. - Vinyl Composition Tile (VCT) is a provider of flooring solutions.

Buy -