GAF acquires Icopal to create largest manufacturer in the global roofing industry

  • 7 Apr 2016

North American roofing manufacturer GAF has announced the acquisition of Icopal, a pan-European manufacturer of roofing and waterproofing products, for approximately €1 billion.

The acquisition will provide GAF with a platform for growth on both sides of the Atlantic within the roofing industry.

GAF’s Executive Vice President of Sales, Jim Schnepper, will now become President and Chief Executive Officer of Icopal, whilst Tom Anderson, GAF’s Senior Vice President of Planning & Supply Chain Management, will become Chief Operating Officer.

GAF and Icopal now has a combined 6,500 employees and nearly $4 billion in sales across more than 80 countries.

Bob Tafaro, President & CEO of GAF commented: “GAF and Icopal are an excellent cultural fit given our shared focus on manufacturing excellence, strong customer service, and innovation.

Icopal and its leading roofing and waterproofing brands have a bright future within the GAF family, and we look forward to working together to create world-class value for all of our customers.”

Moelis & Company oversaw the acquisition as an exclusive financial advisor for GAF’s parent company, Standard Industries. Sullivan & Cromwell acted as a legal advisor in the transaction.

Leave a Reply

Latest news

Keystone Lintels

Keystone makes merchants 'an offer they can't refuse'

Keystone Lintels is making builders merchants ‘an offer they can’t refuse’, in a dramatic movie themed campaign designed to boost turnover.

Posted in Articles, Building Industry Events, Building Industry News, Building Products & Structures, Retrofit & Renovation, Walls

Crown Trade

Break the mould with Crown Trade's Clean Extreme

Crown Trade’s range of Clean Extreme Mould Inhibiting paints offers long-lasting protection against unsightly and unhealthy surface mould.

Posted in Articles, Building Industry News, Building Products & Structures, Health & Safety, Interior Design & Construction, Interiors, Paints, Paints, Coatings & Finishes, Restoration & Refurbishment, Retrofit & Renovation

GGF
Hush

Acoustic focus holds the key to delivering quality in MMC housing - Hush

Never before has there been such a great opportunity to raise the bar on quality in terms of offsite construction and MMC, explains Hush.

Posted in Acoustics, Noise & Vibration Control, Articles, Building Industry News, Building Products & Structures, Building Services, Floors, Research & Materials Testing, Restoration & Refurbishment, Retrofit & Renovation, Walls