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GAF Agrees Closes USD 1.08bn Acquisition of Danish Roofing Manufacturer Icopal.

M2 EQUITYBITES-April 5, 2016-GAF Agrees Closes USD 1.08bn Acquisition of Danish Roofing Manufacturer Icopal

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5 April 2016 - US-based roofing manufacturer GAF has closed the acquisition of pan-European roofing and waterproofing manufacturer Icopal from Bahrain-based alternative investment manager Investcorp Ltd for approximately USD 1.08bn (EUR 1bn), the company said.

Founded in 1876 and headquartered in Herlev, Denmark, Icopal provides modified bitumen membranes and has a significant and growing presence in single-ply and liquid roofing products.

The company also provides products and solutions for the residential roofing, building membranes, below grade waterproofing and civil engineering markets.

Icopal operates 36 production sites, employs approximately 3,500 employees worldwide, and has annual revenues of approximately EUR 1bn (USD 1.1bn).

Its operations and sales are currently concentrated in some of Europe's largest economic regions including Germany, the United Kingdom, France and Scandinavia.

The combined company will have nearly USD 4bn in sales across more than 80 countries and 6,500 employees.

Founded in 1886, GAF provides employment for approximately 3,000 employees in 29 manufacturing plants.

The company's products include steep-slope and commercial roofing systems, supported by a national network of factory-certified contractors.

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Date:Apr 5, 2016
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