Headwaters buys cellular PVC maker Kleer Lumber

By Roger Renstrom
Correspondent

Published: December 20, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Construction, Pipe/Profile/Tubing

SOUTH JORDAN, UTAH (Dec. 20, 12:15 p.m. ET) — A subsidiary of South Jordan-based Headwaters Inc. has agreed to purchase most assets of Kleer Lumber Inc. of Westfield, Mass., for about $43 million.

Kleer Lumber makes synthetic-wood cellular PVC trim board and moulding and decking products. Headwaters’ light building products segment designs, makes and markets siding accessories — often of polypropylene — for residential repair and remodeling and new residential construction applications.

The Tapco International Corp. unit of Headwaters entered into the asset purchase agreement with Kleer Lumber, Louis H. Price, Walter F. Valentine and Jo-Anne G. Price on Dec. 14 with an anticipated Dec. 31 closing. The final price is subject to a working capital adjustment.

Kleer Lumber’s proprietary TruEdge technology seals edges and improves trim-board performance and appearance. Manufacturing, research and development occur in Westfield.

Headwaters intends to add the Kleer Lumber products to its national distribution network. Currently, Kleer distribution focuses on independent lumber yards and home-improvement centers in the Northeast and mid-Atlantic regions.

For the fiscal year ended Sept. 30, Headwaters lost $62.2 million on sales of $632.8 million. The light building products segment accounted for about 54 percent of the total with sales of $339.6 million to wholesale and retail distributors, contractors and other users of building products.

Headwaters’ shares trade on the New York Stock Exchange. On Dec. 18, Headwaters began a registered offering of up to 10 million shares.


Comments

Headwaters buys cellular PVC maker Kleer Lumber

By Roger Renstrom
Correspondent

Published: December 20, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events