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Los Angeles, CA-based The Gores Group, a global investment firm, agreed to acquire Melle Dachbaustoffe GmbH and SIG Deutsche Dachbaustoffe GmbH from SIG plc (LSE: SHI), a distributor of building products in Europe.
Financial terms of the transaction were not disclosed.
Both companies are specialty distributors of roofing products to the German market. The companies maintain an extensive multi-region branch network with a comprehensive product and service offering.
The Gores Group plans to expand the existing product offering of the companies and invest in building their acquisition.