U.S. roofing maker GAF to acquire Denmark’s Icopal – Reuters
January 25, 2016
“GAF, the largest roofing manufacturer in North America, has agreed to acquire Danish peer Icopal A/S for about 1 billion euros ($1.08 billion), in a deal that will dramatically expand the privately held company’s presence in Europe.
“The deal provides GAF with new markets for its products. North America represented about 25 percent of the global roofing industry in 2013, while Europe accounted for close to 14 percent, according to market research firm Freedonia Group.
“GAF, a subsidiary of Standard Industries Inc, which was formerly known as Building Materials Corporation of America, will buy Icopal from Bahrain-based investment firm Investcorp Ltd, the companies said on Monday.”
“This is a transformative first step for our company in its vision to be a leading global industrial manufacturer.”David Winter, co-CEO of Standard Industries
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