Chicago-based AZEK Company Inc., a manufacturer of low-maintenance and environmentally sustainable outdoor living products, acquired Georgia-based StruXure Outdoor Inc., a designer and manufacturer of aluminum pergolas and cabanas.
Financial terms were not announced.
AZEK says the deal expands its position in the broader outdoor living category and complements its “already strong portfolio of products that benefit from AZEK’s expertise in material conversion and the industry’s long-term secular growth trends.”
“We are excited to announce AZEK’s acquisition of StruXure as we expand into this natural market adjacency and continue to build leading positions across the large and growing outdoor living category,” AZEK CEO Jesse Singh said. “Pergolas and cabanas are a nearly $1 billion market opportunity and StruXure, along with our TimberTech products, adds another element to homeowners’ creation of beautiful, low maintenance, and sustainable outdoor living spaces.”
StruXure reached net sales of approximately $50 million and mid-teens Adjusted EBITDA margins in calendar year 2021, and was named to the Inc. “5,000 Fastest-Growing Private Companies” list for the seventh consecutive year.