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

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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.
 “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.

Moelis & Company served as the financial adviser for Standard Industries, the parent company of GAF, and Sullivan & Cromwell served as legal adviser.

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

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