GAF wraps up $1.14B deal for Danish roofing products manufacturer

By Anonymous -
GAF, a Parsippany-based roofing manufacturer, has closed on its acquisition of a Danish maker of high-end roofing and waterproofing products for approximately $1.14 billion, it announced Monday.
GAF said in a news release that it has acquired Icopal from Investcorp Ltd. for approximately 1 billion euros.
The acquisition will allow for GAF to grow its roofing business “on both sides of the Atlantic,” the release said.
Jim Schnepper, executive vice president of sales at GAF, will become CEO and president of Icopal, GAF’s European operating division. Tom Anderson, senior vice president of planning and supply chain management at GAL, will become chief operating officer.

Related to GAF

GAF buying European roofing products maker for $1.1B
“GAF and Icopal are an excellent cultural fit, given our shared focus on manufacturing excellence, strong customer service, and innovation,” Bob Tafaro, CEO and president of GAF. “Icopal and its leading roofing and waterproofing brands have a bright future within the GAF family, and we look forward to working together to create world-class value for all of our customers.”
The combined company will have 6,500 employees and approximately $4 billion in sales in 80 countries, GAF said.
From NRCA
Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A. 
407 N. Howard Avenue
Suite 100
Tampa, FL 33606
www.trentcotney.com

Comments

Post a Comment

Popular posts from this blog

The Dotted Line: When Contractors Can Walk Off the Job

By -
When general contractors or subcontractors sign on to construction projects, they usually start off believing everything will run smoothly. But, during the course of the work, issues sometimes arise that force all parties to go running back to their contracts in order to evaluate their options. One of those options for construction companies is to simply stop work, but contractors need to take care when making such a big decision. “Stopping work and ultimately terminating the contract is one of the most radical things you can do,” said Joseph McManus Jr., attorney and shareholder at law firm Carlton Fields.   Luckily, most of the circumstances under which contractors are clearly entitled to stop work are included in the most popular standard forms of contracts. Nonpayment The most common reason that contractors find it necessary to stop work, McManus said, is that they haven’t been paid for approved invoices. In that scenario, he said, contractors have the ...
Read more

"Mass-timber" Sees Greater Use in Roofing and Construction Projects in Europe

By -
Image
The use of "mass-timber," or prefabricated engineered wood components is becoming more common in construction and roofing applications in Europe. In projects such as the galleria roof of a central city building in Surrey, it helps meet demand for wood structures to add visual appeal. From NRCA Trenton H. Cotney Florida Bar Certified Construction Lawyer Trent Cotney, P.A. 407 N. Howard Avenue Suite 100 Tampa, FL 33606 www.trentcotney.com
Read more