6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
ElkCorp, Dallas, TX, a manufacturer of premium roofing and building products, has agreed to be acquired by private equity firm The Carlyle Group for $1 billion in cash, including the assumption of $173 million of net debt.
In a separate agreement, Carlyle has agreed to partner with Hood Companies, Inc. and its subsidiary Atlas Roofing Corporation, a manufacturer of commercial and residential roofing products. Financial terms of this transaction were not disclosed. Following the closing of the Elk transaction, Carlyle expects to merge Elk and Atlas. However, completion of the Elk transaction is not contingent upon completion of the Hood/Atlas transaction.
ElkCorp, through its subsidiaries, manufactures Elk brand roofing and building products (90% of consolidated revenue) and provides technologically advanced products and services to other industries.
The Carlyle Group is a global private equity firm with $46.9 billion under management.
More Breaking News