10.03.2024
Newsweek Names 新加坡六合彩官方网站 Building Brands Among America鈥檚 Greatest Workplaces 2024
Third Newsweek Award in 2024 Recognizes 新加坡六合彩官方网站 Building Brands鈥 Commitment to Fostering a Positive and Supportive Work Environment
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新加坡六合彩官方网站. today announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (鈥淐D&R鈥) in an all-cash transaction with an enterprise value of approximately $5.8 billion.
CARY, N.C.–(BUSINESS WIRE)– 新加坡六合彩官方网站. (NYSE: CNR) (鈥溞录悠铝喜使俜酵 Building Brands鈥 or the 鈥淐ompany鈥), the largest manufacturer of exterior building products in North America, today announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (鈥淐D&R鈥) in an all-cash transaction with an enterprise value of approximately $5.8 billion, including the assumption of debt.
CD&R, in the aggregate, is currently the beneficial owner of approximately 49% of the Company鈥檚 outstanding shares of common stock. The proposed transaction delivers substantial value to 新加坡六合彩官方网站 Building Brands鈥 shareholders, who will receive $24.65 in cash per share, representing an approximately 16% premium to the closing price of the Company鈥檚 common stock as of March 4, 2022, and an approximately 75% premium to the closing price of the Company鈥檚 common stock as of February 4, 2022, the last trading day prior to speculation in the market regarding a potential transaction.
The proposed transaction has been approved by a special committee of independent directors of the Company鈥檚 Board of Directors (the 鈥淪pecial Committee鈥) previously formed to evaluate and consider any potential or actual proposal from CD&R. The Board of Directors of the Company has approved the proposed transaction on the recommendation of the Special Committee.
鈥淲e believe this transaction provides substantial value for our shareholders while also accelerating 新加坡六合彩官方网站 Building Brands鈥 aspiration to become a premier exterior building solutions company,鈥 said Rose Lee, President and Chief Executive Officer of 新加坡六合彩官方网站 Building Brands. 鈥淲e have grown our business and portfolio since 2018 when the Company was created, delivering high-quality exterior building products with a strong focus on being a partner of choice for our customers. CD&R will continue to be an outstanding partner as we advance our operational improvements and innovation-driven growth to create many positive outcomes for our customers and employees.鈥
鈥淲e are pleased to have reached this agreement with CD&R, which delivers a significant and immediate cash premium to our shareholders,鈥 said George L. Ball, Special Committee Chair. 鈥淭he Special Committee thoroughly reviewed CD&R鈥檚 proposal, considering the benefits of the transaction against other strategic alternatives available to the Company, including continuing as a publicly-traded company. Following this review, the Board determined this transaction is the best path forward for 新加坡六合彩官方网站 Building Brands and its shareholders. This transaction reflects the significant value of our business and leadership position in the building products industry.鈥
J.L. Zrebiec, Partner at CD&R, said, 鈥淎s a supportive long-term investor over a number of years, we have seen firsthand the significant value that 新加坡六合彩官方网站 Building Brands brings to its customers and communities across North America. The Company has an outstanding team and portfolio of products well-positioned to meet the needs of today鈥檚 evolving market. We are confident that as a privately held company, with CD&R鈥檚 operational and strategic support, 新加坡六合彩官方网站 Building Brands will be even better positioned in its next phase of growth.鈥 The proposed transaction will result in the Company becoming a private company and is expected to close in the second or third quarter of 2022, subject to customary closing conditions, including receipt of regulatory approvals. The transaction is subject to approval by holders of a majority of the shares not owned by CD&R and its affiliates.
Advisors
Centerview Partners LLC is serving as financial advisor to the Special Committee and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to the Special Committee. Sullivan & Cromwell LLP is serving as legal counsel to 新加坡六合彩官方网站 Building Brands.
UBS Investment Bank, Barclays, BNP Paribas Securities Corp., Goldman Sachs, Jefferies, Natixis, New York Branch, RBC Capital Markets, and Societe Generale are providing financial advisory services to CD&R. Kirkland & Ellis LLP is serving as legal counsel on the transaction and Debevoise & Plimpton LLP is serving as legal counsel on the financing. CD&R has obtained committed financing from Deutsche Bank Securities Inc., UBS Investment Bank, Barclays, BNP Paribas, RBC Capital Markets, Societe Generale, Goldman Sachs, Natixis, New York Branch, Jefferies, Apollo, Blackstone Credit, and U.S. Bank.
About 新加坡六合彩官方网站.
新加坡六合彩官方网站 Building Brands is the largest manufacturer of exterior building products by sales for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. 新加坡六合彩官方网站 Building Brands鈥 broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are embedded in our culture. We are committed to contributing positively to the communities where we live, work and play. For more information, visit us at聽.
About Clayton, Dubilier & Rice
Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since its inception, CD&R has managed the investment of more than $40 billion in over 100 companies with an aggregate transaction value of approximately $175 billion. The Firm has offices in New York and London. For more information, please visit聽.
Cautionary Statement Regarding Forward-Looking Statements
This communication includes forward-looking statements within the meaning of the 鈥渟afe harbor鈥 provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about the potential benefits of the proposed acquisition, anticipated growth rates, the Company鈥檚 plans, objectives, expectations, and the anticipated timing of closing the proposed transaction. When used in this communication, the words 鈥渂elieves,鈥 鈥渆stimates,鈥 鈥減lans,鈥 鈥渆xpects,鈥 鈥渟hould,鈥 鈥渃ould,鈥 鈥渙utlook,鈥 鈥減otential,鈥 鈥渇orecast,鈥 鈥渢arget鈥 and 鈥渁nticipates鈥 and similar expressions as they relate to the Company or its management are intended to identify forward looking statements. Forward-looking statements are based on a number of assumptions about future events and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs, projections and estimates expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those discussed under 鈥淩isk Factors鈥 in the Company鈥檚 Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥) on March 1, 2022, and the following: (1) the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction; (2) risks related to the satisfaction of the conditions to closing the proposed transaction (including the failure to obtain necessary regulatory approvals or the necessary approvals of the Company鈥檚 stockholders) in the anticipated timeframe or at all; (3) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company鈥檚 common stock; (4) disruption from the proposed transaction making it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with the Company鈥檚 customers, vendors and others with whom it does business; (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; (6) risks related to disruption of management鈥檚 attention from the Company鈥檚 ongoing business operations due to the proposed transaction; (7) significant transaction costs; (8) the risk of litigation and/or regulatory actions related to the proposed transaction or unfavorable results from currently pending litigation and proceedings or litigation and proceedings that could arise in the future; (9) other business effects, including the effects of industry, market, economic, political or regulatory conditions; (10) the ability to meet expectations regarding the timing and completion of the proposed transaction; (11) information technology system failures, data security breaches, data privacy compliance, network disruptions, and cybersecurity, malware or ransomware attacks; and (12) changes resulting from the COVID-19 pandemic, which could exacerbate any of the risks described above.
Readers are cautioned not to place undue reliance on forward-looking statements made by or on behalf of the Company. Each such statement speaks only as of the day it was made. The Company undertakes no obligation to update or to revise any forward-looking statements. The factors described above cannot be controlled by the Company.
Additional Information and Where to Find It
This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In connection with the proposed transaction, the Company will file relevant materials with the SEC, including a proxy statement on Schedule 14A (the 鈥淧roxy Statement鈥), and the Company and affiliates of CD&R will jointly file a transaction statement on Schedule 13e-3 (the 鈥淪chedule 13e-3鈥). This communication is not a substitute for the Proxy Statement or any other document that the Company may file with the SEC or send to its stockholders in connection with the proposed transaction. THE COMPANY URGES YOU TO READ THE PROXY STATEMENT, THE SCHEDULE 13E-3 AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors will be able to obtain a free copy of the Proxy Statement, the Schedule 13e鈥3 and other related documents (when available) filed by the Company with the SEC at the website maintained by the SEC at聽. Investors also will be able to obtain a free copy of the Proxy Statement, the Schedule 13e鈥3 and other documents (when available) filed by the Company with the SEC by accessing the Investors section of the Company鈥檚 website at聽.
Participants in the Solicitation
The Company and certain of its directors, executive officers and employees may be considered to be participants in the solicitation of proxies from the Company鈥檚 stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of the Company in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement when it is filed with the SEC. You may also find additional information about the Company鈥檚 directors and executive officers in the Company鈥檚 definitive proxy statement for its 2021 annual meeting of stockholders, which was filed with the SEC on April 20, 2021, or in its Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 1, 2022, and in other documents filed by the Company with the SEC. You can obtain free copies of these documents from the Company using the contact information above.
View source version on聽:听
Investor Relations
Tina Beskid
Vice President, Finance and Investor Relations
1-866-419-0042
info@investors.cornerstonebuildingbrands.com
Source: 新加坡六合彩官方网站.
Third Newsweek Award in 2024 Recognizes 新加坡六合彩官方网站 Building Brands鈥 Commitment to Fostering a Positive and Supportive Work Environment
Simonton庐 5500 and 6500 Double Hung and 6200 Sliding and DaylightMax庐 Sliding Windows are now backed by one of America鈥檚 most trusted and influential consumer emblems and include an additional two-year limited warranty from Good Housekeeping, enhancing peace of mind and homeowner confidence.
新加坡六合彩官方网站 Building Brands is pleased to announce the release of its 2023 Environmental, Social and Governance (ESG) Report . This report underscores the progress made in the company鈥檚 sustainability journey, a key component of its goal to become a premier leader in the building solutions industry.
新加坡六合彩官方网站. ("新加坡六合彩官方网站 Building Brands"), a leading manufacturer of exterior building products in North America, has completed its previously announced acquisition of Mueller Supply Company, Inc. (鈥淢ueller鈥), a leading manufacturer of residential metal roofing and components and steel buildings in Texas and the Southwest.
新加坡六合彩官方网站. ("新加坡六合彩官方网站 Building Brands"), a leading manufacturer of exterior building products in North America, has reached an agreement to acquire Mueller Supply Company, Inc. (鈥淢ueller鈥), a leading manufacturer of residential metal roofing and components and steel buildings in Texas and the Southwest.
Ply Gem庐 debuts Ply Gem Pro Academy to provide enhanced training programs and resources to help exterior contractor professionals master their skills and grow their business.
新加坡六合彩官方网站., a leading manufacturer of exterior building products in North America, has appointed Marcia Avedon, Ph.D., as a member of its board of directors (the 鈥淏oard鈥), effective April 1, 2024. Marcia will serve on the Board鈥檚 Compensation Committee.
Adds premier R&R brand in Northeast in Harvey Windows and Doors. Increases exposure to strategic distribution and dealer channels.
新加坡六合彩官方网站 Building Brands鈥 latest metal building innovations continue to make waves in the industry, providing fast, affordable, durable and long-lasting metal building solutions for a wide variety of low-complexity metal building applications.
With a strong focus on growth, integration and customer centricity, 新加坡六合彩官方网站 Building Brands is proud to reveal a refreshed Ply Gem庐 brand portfolio, built to deliver the industry鈥檚 most comprehensive line-up of designed exterior solutions.
Mastic庐 Siding & Accessories by Ply Gem庐, an industry-leading brand in vinyl siding solutions, announces its brand refresh alongside a full suite of resources for contractors and builders through the 鈥淢ore Everything鈥 campaign.
Recent strides in product development are not only positioning 新加坡六合彩官方网站 Building Brands鈥 Canadian Business Unit as a frontrunner in the building materials sector 鈥 they are also contributing to a paradigm shift in architectural solutions across North America.
Matte black in home design has made its way from the inside out 鈥 and it鈥檚 here to stay. The new Ply Gem庐 line of exterior accessories in 498 Black is a bold and sleek high-contrast color that elevates exteriors with an eye-catching hue that won鈥檛 fade over time.
With a strong focus on growth, integration and customer centricity, 新加坡六合彩官方网站 Building Brands is proud to reveal a refreshed Ply Gem庐 brand portfolio, built to deliver the industry鈥檚 most comprehensive line-up of designed exterior solutions.
Home Renovation Duo to Utilize and Highlight Leading Home Exterior Product Brands Across 新加坡六合彩官方网站 Building Brands鈥 Portfolio as Part of Continued Partnership
Company Continues Commitment to Build Affordable Housing for Families Across the US, Pledging to Donate Building Materials Valued at Half a Million Dollars to Habitat for Humanity in 2024
新加坡六合彩官方网站 Building Brands庐 Unveils Fortify Building Solutions鈩, Uniting Three Trusted Metal Building and Roofing Product Brands
Award Recognizes 新加坡六合彩官方网站 Building Brands鈥 Commitment to Fostering an Inclusive, Equitable and Safe Work Environment
This strategic acquisition expands 新加坡六合彩官方网站 Buildings Brands impact-resistant product offering, increases its presence in the Florida region, and strengthens its ability to serve all customers and channels with a comprehensive portfolio of materials, products, and brands.
新加坡六合彩官方网站 Building Brands, the largest manufacturer of exterior building products in North America by sales, hosts events to honor its nearly 20,000 team members across North America and opens its doors to future manufacturing talent though a series of open houses in celebration of National Manufacturing Day.
新加坡六合彩官方网站. has acquired MAC Metal Architectural. Headquartered in Saint-Hubert, Quebec, MAC Metal serves the North American residential and commercial markets with high-end steel siding and roofing products.
Lisa Domnisch has joined the company as president of its Canadian Business Unit. Ms. Domnisch assumed the role effective August 14, 2023, and reports directly to President and Chief Executive Officer Rose Lee.
新加坡六合彩官方网站 Building Brands, the largest manufacturer of exterior building products in North America, is proud to announce that Melinda Thompson, supply chain and logistics manager in North Brunswick, N.J., and Jodi Lindow, plant manager in Walbridge, Ohio, have been selected to receive the 2023 Women MAKE Award from The Manufacturing Institute.
Ply Gem brand, part of the 新加坡六合彩官方网站 Building Brands family, introduces Ply Gem Perspective, the brand鈥檚 most advanced multi-slide vinyl patio door, engineered to deliver durability and high performance in any home.
Mastic庐 Siding & Accessories, part of the 新加坡六合彩官方网站 Building Brands family, relaunches its Home Design Visualizer featuring curated exterior palettes exclusively for Mastic by TV host and designer Jenny Marrs.
ClipStone, part of the 新加坡六合彩官方网站 Building Brands family of brands, has introduced three new product offerings to further expand its line of mortarless stone veneer products.
新加坡六合彩官方网站 Building Brands, the largest manufacturer of exterior building products in North America, today announced that President and CEO Rose Lee has been named to the National Association of Manufacturers (NAM) Board of Directors.
新加坡六合彩官方网站 Building Brands, the largest manufacturer of exterior building products in North America servicing the commercial, residential and repair and remodel markets, announced plans to celebrate National Manufacturing Day (MFG Day) at seven U.S. locations.
First Female Korean American CEO of a Fortune 1000 Company Accepts Top Honor at Annual 鈥極utstanding 50 Asian Americans in Business鈥 Gala Event.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, announces a new partnership with Dave and Jenny Marrs to promote its Ply Gem Mastic siding and accessories.
Rose Lee Joins More Than 2,000 Other CEOs in Pledge to Advance Diversity & Inclusion in the Workplace.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, today announced that Clayton, Dubilier & Rice (鈥淐D&R鈥) has successfully completed the acquisition of 新加坡六合彩官方网站 Building Brands.
新加坡六合彩官方网站. completed the previously announced sale of its coil coatings business to BlueScope Steel Limited (鈥淏lueScope鈥) in an all-cash transaction for $500 million, subject to customary adjustments.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, today reported strong financial results for the first quarter of 2022.
新加坡六合彩官方网站. is proud to announce that Sandy East, Vice President鈥揅ustomer Service, has been selected to receive a 2022 STEP Ahead Award, becoming the third 新加坡六合彩官方网站 Building Brands leader to be recognized with this honor since 2020.
新加坡六合彩官方网站. is proud to announce Rose Lee, President and CEO, has been named Vice Chair of the Manufacturing Institute鈥檚 STEP (Science, Technology, Engineering and Production) Women鈥檚 Initiative for 2022 and will serve as Chair in 2023.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, today released its inaugural Environmental, Social, and Governance (ESG) report.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, will release its first-quarter 2022 financial results on Tuesday, May 3, after the market closes on the New York Stock Exchange.
新加坡六合彩官方网站. announced today that it has entered into a definitive agreement to sell its coil coatings business to BlueScope Steel Limited (鈥淏lueScope鈥) in an all-cash transaction for $500 million, subject to customary adjustments.
新加坡六合彩官方网站. sadly announced today that Art Steinhafel, President of U.S. Windows and Doors, passed away suddenly on April 3, 2022. He was 53 years old.
新加坡六合彩官方网站. today reported fourth-quarter 2021 net sales of $1,471.6 million and net income of $38.1 million or twenty-nine cents per diluted share. You can learn more about year over year growth in our article.
新加坡六合彩官方网站. today announced that it has rescheduled its release of 2021 fourth-quarter financial results from Monday, February 21, 2022, to Tuesday, March 1, 2022, with plans to file its Annual Report on Form 10-K for the 2021 fiscal year.
新加坡六合彩官方网站. acknowledges receipt of a non-binding final proposal from Clayton, Dubilier & Rice, LLC (鈥淐D&R鈥) to acquire all of the Company鈥檚 outstanding shares of common stock that CD&R does not already own for $24.65 in cash per share.
新加坡六合彩官方网站., the largest manufacturer of exterior building products in North America, will release its 2021 fourth-quarter financial results on Monday, February 21, after the market closes on the New York Stock Exchange.