Headwaters buys cellular PVC maker Kleer Lumber

By Roger Renstrom
Correspondent

Published: December 20, 2012 6:00 am ET

Related to this story

Topics Construction, Mergers & Acquisitions, 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

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

Composite bridge maker also leading the way in installation

August 22, 2014 1:21 pm ET

Lightweight, low maintenance and strong, fiber-reinforced polymer (FRP) bridge decks finally are crossing the line from specialty projects to wider...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will i...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

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

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