M&A Deal Summary

Masco Acquires Steamist

On July 15, 2021, Masco acquired building materials company Steamist from RAF Industries

Acquisition Highlights
  • This is Masco’s 8th transaction in the Building Materials sector.
  • This is Masco’s 11th transaction in the United States.
  • This is Masco’s 2nd transaction in New Jersey.

M&A Deal Summary

Date 2021-07-15
Target Steamist
Sector Building Materials
Buyer(s) Masco
Sellers(s) RAF Industries
Deal Type Add-on Acquisition
Advisor(s) Oaklins International, Inc. (Financial)

Target

Steamist

Rutherford, New Jersey, United States
Steamist is a manufacturer of steam bath products for the commercial and residential markets. Steamist was established in 1958 and is based in Rutherford, New Jersey.

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Buyer(S) 1

Buyer

Masco

Livonia, Michigan, United States

Category Company
Founded 1929
Sector Building Materials
Employees18,000
Revenue 8.0B USD (2023)
DESCRIPTION
Entrance to Masco's corporate headquarters in Taylor, Michigan.
Entrance to Masco's corporate headquarters in Taylor, Michigan.

Masco manufactures, distributes and installs home improvement and building products. The Company is among the largest manufacturers in North America of a number of home improvement and building products, including faucets, cabinets, architectural coatings and windows, and Masco is one of the largest installers of insulation for new home construction. The Company provides a broad product offering in a variety of styles and price points and distribute products through multiple channels, including directly to homebuilders and wholesale and retail channels. Masco was formed in 1929 and is based in Livonia, Michigan.


DEAL STATS #
Overall 16 of 17
Sector (Building Materials) 8 of 8
Type (Add-on Acquisition) 16 of 17
State (New Jersey) 2 of 2
Country (United States) 11 of 11
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-12 Huppe

Bad Zwischenahn, Germany

Huppe is a manufacturer of shower enclosures, shower trays, wall panels, and bathroom accessories. Huppe was founded in 1889 and is based in Bad Zwischenahn, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Sauna360

Hanko, Finland

Sauna360 is a developer, manufacturer, and marketer of a broad product range that includes sauna heaters, steam bath products, control units, and sauna accessories. Sauna360 was founded in 1919 and is based in Hanko, Finland.

Buy -

Seller(S) 1

SELLER

RAF Industries

Bala Cynwyd, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1979
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAF Industries is a private investment group focused on acquiring manufacturing and service-oriented companies that produce both industrial and consumer products in the US. The company has a preference for businesses with strong management wishing to partner with RAF post-acquisition. For platform acquisitions, RAF generally looks for businesses with at least $5 million in cash-flow. The Firm targets businesses valued from $15 to $150 million. RAF Industries is particularly interested in the areas of building and DIY products, products, and services geared towards enhancing the elderly population's lifestyle, as well as products or services provided to high-end consumers. RAF Industries was formed in 1979 and is based in Bala Cynwyd, Pennsylvania.


DEAL STATS #
Overall 11 of 15
Sector (Building Materials) 1 of 2
Type (Add-on Acquisition) 6 of 9
State (New Jersey) 2 of 2
Country (United States) 11 of 15
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-20 AMPS

Phoenix, Arizona, United States

AMPS provides its services to mid-sized and large employers, health plans, and municipalities to reduce healthcare expenditures without negatively affecting member benefits or health outcomes. AMPS is a national leader in reference based reimbursement, the non-PPO based health plan delivery model that has proven to reduce costs for employers and healthcare plans by 30% or more over conventional PPO options. AMPS also specializes in the review and audit of large healthcare bills prior to payment. AMPS was founded in 2005 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-16 Ferche Millwork

Rice, Minnesota, United States

Ferche Millwork is a manufacturer of oak moldings in North America. Product lines include casings, jambs, cabinet parts, railings, balusters, stair parts, and veneers. Ferche Millwork was established in 1958 and is based in Rice, Minnesota.

Sell -