AZEK to acquire Versatex
SKOKIE, Ill. — The AZEK Company announced in a press release that it has signed a definitive agreement to acquire Versatex, a manufacturer of highly engineered cellular PVC products. The deal will provide AZEK with an additional growth platform for expanding the AZEK’s building envelope offerings.
Versatex manufactures and sells branded exterior trim, sheet, mouldings and other products with an expanding range of building applications.
Jesse Singh, Chief Executive Officer, AZEK said, “AZEK’s acquisition of Versatex will further expand and diversify our broad portfolio of high-quality home exterior and outdoor living products that help contractors, builders, developers and homeowners beautify homes. Versatex’s focus on exterior trim and mouldings will complement our presence in exterior decking, trim, mouldings and columns, and Versatex’s strength in sales execution will be a strong counterpart to our R&D and material science capabilities.”
“Versatex shares our values, with a focus on high quality and differentiated products. The expansion of our product line and added R&D and marketing resources will enable us to better serve our customers and dealers with innovative products, while positioning us to continue to benefit from the ongoing shifts in customer preference towards alternative materials. It is our plan to maintain Versatex’s go-to-market approach and existing distribution model post-close,” Singh added.
John Pace, CEO, Versatex, said, “Our companies have complementary strengths as well as a shared commitment to premium quality, customer service and product innovation. We look forward to working together with AZEK to address the opportunities that alternative materials offer the building envelope market.”
Closing is subject to regulatory review. Terms of the transaction were not disclosed.