Mergers & Acquisitions

July 5, 2022

Carpenter/Recticel Update

CMA issues its Phase I decision with respect to the divestment by Recticel of its Engineered Foams business line to Carpenter

Regulated information, Brussels, 05/07/2022 — 08:30 CET, 05.07.2022

Recticel announces that on 4 July 2022 the UK Competition and Markets Authority (the “CMA”) has issued its Phase I decision with respect to the divestment by Recticel of its Engineered Foams business line to Carpenter (the “Transaction”) and has found that the Transaction would raise competition concerns in the UK market.

The CMA indicated that the Transaction would remove a close competitor of Carpenter’s, with Recticel and Carpenter representing 2 of just 3 foam producers with plants in the UK. The affected UK Recticel Engineered Foams businesses represent 8.7% of the 2021 turnover of the Recticel Engineered Foams business.

Carpenter now has until 11 July 2022 to submit remedy proposals to address the CMA’s competition concerns. The CMA then has a further 5 working days to consider whether to accept any remedy offer made by Carpenter instead of referring the case for an in-depth Phase 2 investigation.

Recticel will make further announcements in this respect in due course.

https://www.recticel.com/cma-issues-its-phase-i-decision-respect-divestment-recticel-its-engineered-foams-business-line.html

July 5, 2022

Carpenter/Recticel Update

CMA issues its Phase I decision with respect to the divestment by Recticel of its Engineered Foams business line to Carpenter

Regulated information, Brussels, 05/07/2022 — 08:30 CET, 05.07.2022

Recticel announces that on 4 July 2022 the UK Competition and Markets Authority (the “CMA”) has issued its Phase I decision with respect to the divestment by Recticel of its Engineered Foams business line to Carpenter (the “Transaction”) and has found that the Transaction would raise competition concerns in the UK market.

The CMA indicated that the Transaction would remove a close competitor of Carpenter’s, with Recticel and Carpenter representing 2 of just 3 foam producers with plants in the UK. The affected UK Recticel Engineered Foams businesses represent 8.7% of the 2021 turnover of the Recticel Engineered Foams business.

Carpenter now has until 11 July 2022 to submit remedy proposals to address the CMA’s competition concerns. The CMA then has a further 5 working days to consider whether to accept any remedy offer made by Carpenter instead of referring the case for an in-depth Phase 2 investigation.

Recticel will make further announcements in this respect in due course.

https://www.recticel.com/cma-issues-its-phase-i-decision-respect-divestment-recticel-its-engineered-foams-business-line.html

June 22, 2022

Even More M&A

LP Building Solutions and Pacific Woodtech Enter Acquisition Agreement for LP’s Engineered Wood Products Business and SolidStart® Brand

Tue, June 21, 2022 at 6:00 PM·3 min readIn this article:

NASHVILLE, Tenn., June 21, 2022 /CNW/ — LP Building Solutions (LP) (NYSE: LPX) today announced an agreement with Pacific Woodtech to acquire LP’s Engineered Wood Products (EWP) business for $210 million. The acquisition includes LP’s laminated veneer lumber and I-joist manufacturing facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, associated timber license assets, and the SolidStart® brand. The completion of this transaction is subject to customary closing conditions and regulatory reviews and is expected to occur in the third quarter of 2022.

LP Building Solutions (PRNewsfoto/Louisiana-Pacific Corporation)
LP Building Solutions (PRNewsfoto/Louisiana-Pacific Corporation)

Pacific Woodtech’s acquisition of LP’s EWP business marks another important step in our ongoing strategic transformation

“We believe that Pacific Woodtech is well positioned to invest in and grow the SolidStart brand, and its acquisition of LP’s EWP business marks another important step in LP’s ongoing strategic transformation,” said LP Chair and Chief Executive Officer Brad Southern. “We will work with Pacific Woodtech to ensure a smooth transition for our EWP employees, customers, and suppliers. I want to express my sincere thanks to the entire EWP team for their patience and professionalism throughout this process. I wish them all the best moving forward.”

“Adding the EWP facilities in Golden, Wilmington, and Red Bluff to Pacific Woodtech’s existing EWP business propels our company to new growth,” said Pacific Woodtech President and Chief Executive Officer Jim Enright. “We aim to drive positive change at the cutting edge of engineered wood products, and this acquisition will provide a more streamlined and focused EWP resource for the industry. We are committed to making this a seamless transition, one that allows for the retention and care of current employees, clients, and suppliers and strengthens our position as a leading force in the EWP market going forward.”

LP’s financial adviser is UBS Investment Bank. LP’s legal advisers are Troutman Pepper and Fasken Martineau DuMoulin LLP.

About LP Building Solutions

As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide. LP’s extensive offerings include innovative and dependable building products and accessories, such as siding solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions®), LP Structural Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, and LP® FlameBlock® Fire-Rated Sheathing, LP NovaCore™ Thermal Insulated Sheathing, and more), LP® TopNotch® Sub-Flooring, and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better Worldby helping customers construct beautiful, durable homes while our shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 25 plants across the U.S., Canada, Chile, and Brazil. For more information, visit LPCorp.com.

https://finance.yahoo.com/news/lp-building-solutions-pacific-woodtech-220000347.html

June 22, 2022

Even More M&A

LP Building Solutions and Pacific Woodtech Enter Acquisition Agreement for LP’s Engineered Wood Products Business and SolidStart® Brand

Tue, June 21, 2022 at 6:00 PM·3 min readIn this article:

NASHVILLE, Tenn., June 21, 2022 /CNW/ — LP Building Solutions (LP) (NYSE: LPX) today announced an agreement with Pacific Woodtech to acquire LP’s Engineered Wood Products (EWP) business for $210 million. The acquisition includes LP’s laminated veneer lumber and I-joist manufacturing facilities in Wilmington, North Carolina; Red Bluff, California; and Golden, British Columbia, Canada, associated timber license assets, and the SolidStart® brand. The completion of this transaction is subject to customary closing conditions and regulatory reviews and is expected to occur in the third quarter of 2022.

LP Building Solutions (PRNewsfoto/Louisiana-Pacific Corporation)
LP Building Solutions (PRNewsfoto/Louisiana-Pacific Corporation)

Pacific Woodtech’s acquisition of LP’s EWP business marks another important step in our ongoing strategic transformation

“We believe that Pacific Woodtech is well positioned to invest in and grow the SolidStart brand, and its acquisition of LP’s EWP business marks another important step in LP’s ongoing strategic transformation,” said LP Chair and Chief Executive Officer Brad Southern. “We will work with Pacific Woodtech to ensure a smooth transition for our EWP employees, customers, and suppliers. I want to express my sincere thanks to the entire EWP team for their patience and professionalism throughout this process. I wish them all the best moving forward.”

“Adding the EWP facilities in Golden, Wilmington, and Red Bluff to Pacific Woodtech’s existing EWP business propels our company to new growth,” said Pacific Woodtech President and Chief Executive Officer Jim Enright. “We aim to drive positive change at the cutting edge of engineered wood products, and this acquisition will provide a more streamlined and focused EWP resource for the industry. We are committed to making this a seamless transition, one that allows for the retention and care of current employees, clients, and suppliers and strengthens our position as a leading force in the EWP market going forward.”

LP’s financial adviser is UBS Investment Bank. LP’s legal advisers are Troutman Pepper and Fasken Martineau DuMoulin LLP.

About LP Building Solutions

As a leader in high-performance building solutions, Louisiana-Pacific Corporation (LP Building Solutions, NYSE: LPX) manufactures engineered wood building products that meet the demands of builders, remodelers, and homeowners worldwide. LP’s extensive offerings include innovative and dependable building products and accessories, such as siding solutions (LP® SmartSide® Trim & Siding, LP® SmartSide® ExpertFinish® Trim & Siding, LP BuilderSeries® Lap Siding, and LP® Outdoor Building Solutions®), LP Structural Solutions (LP® TechShield® Radiant Barrier, LP WeatherLogic® Air & Water Barrier, LP Legacy® Premium Sub-Flooring, and LP® FlameBlock® Fire-Rated Sheathing, LP NovaCore™ Thermal Insulated Sheathing, and more), LP® TopNotch® Sub-Flooring, and oriented strand board (OSB). In addition to product solutions, LP provides industry-leading customer service and warranties. Since its founding in 1972, LP has been Building a Better Worldby helping customers construct beautiful, durable homes while our shareholders build lasting value. Headquartered in Nashville, Tennessee, LP operates 25 plants across the U.S., Canada, Chile, and Brazil. For more information, visit LPCorp.com.

https://finance.yahoo.com/news/lp-building-solutions-pacific-woodtech-220000347.html

June 22, 2022

Firestone Parent Acquires SES Foam

Holcim to acquire SES roofing and insulation business

EQS Group Jun. 22, 2022, 03:04 AM

Holcim Group Services Ltd / Key word(s): Acquisition
Holcim to acquire SES roofing and insulation business


22.06.2022 / 09:04

Acquisition to expand Holcims roofing and insulation business Proven double-digit growth engine in the highly profitable US spray foam insulation market Annual sales of USD 200 million for 2022  Highly regarded brand for sustainable new builds and green retrofitting projects Accelerates Holcims growth in Solutions & Products in the US

  Holcim has entered into an agreement to acquire SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 (est.) Net Sales of USD 200 million. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects.

This transaction adds to Holcims recent acquisitions, from Firestone Building Products to Malarkey, taking its Proforma 2022 Net Sales in roofing and insulation business to USD 3.5 billion. Jamie Gentoso, Head Solutions & Products: This is another exciting step in the expansion of Solutions & Products, advancing our Strategy 2025 Accelerating Green Growth. SES has a proven track record of growth and innovation in thermal insulation with a focus on more sustainable solutions, making them highly complementary to our roofing and insulation business.

“We look forward to warmly welcoming all SES employees into Holcim and to invest in our next era of growth together, with a continued focus on innovation and sustainability. Holcims commitment to innovation, superior execution and global resources provide an attractive platform from which to continue to deliver profitable growth”, said Charles Valentine, Chief Executive Officer and President of SES. “We are excited about our future together.”

Founded in 2009 and based in Spring, Texas, SES has a history of innovation with solutions like SucraSeal®, the first sucrose-based spray foam insulation to be certified by the US Department of Agriculture for its high bio-based content. SES offers superior products that improve buildings energy-efficiency and thermal comfort, while lowering their carbon footprint. The company stands out for its value-added services to contractors, including onsite technical instruction, business consulting, branding and lead generation support.

This acquisition advances Holcims Strategy 2025 Accelerating Green Growth with the goal to expand its Solutions & Products business to 30% of Group Net Sales by 2025. It expands Holcims reach in the attractive insulation, as well as repair and refurbishment markets.

About Holcim
Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success.

The company is driving circular construction as a world leader in recycling to build more with less. Holcim is the company behind some of the worlds most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products. Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter.