CPG International Inc., Scranton, PA, has agreed to be acquired by funds managed by Ares Management LLC and Ontario Teachers’ Pension Plan. Ares and Teachers’ will hold an equal economic interest in CPG, with senior management retaining a minority stake. CPG is currently majority owned by funds advised by AEA Investors LP. Terms were not disclosed.

CPG International is a manufacturer of highly engineered low-maintenance building materials designed to replace wood, metal and other traditional materials in a variety of building applications. CPG sells its products into the residential, commercial and industrial markets under the brand names of AZEK, TimberTech, VYCOM and Scranton Products.

Jane Rowe, senior vice-president of Teachers’ Private Capital and Infrastructure, said CPG is well-positioned for growth as consumers continue to recognize the value of low-maintenance building materials.