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

Vi-Lux expands capacity, with room already laid out for future growth

April 15, 2014 2:00 pm ET

Vi-Lux Building Products Inc. just expanded its extrusion capacity by 15 percent — and while work crews were inside the Napanee, Ontario,...    More

Krahn Chemie acquires Italy's Pietro Carini

April 15, 2014 11:20 am ET

Germany's Krahn Chemie GmbH has purchased a majority share in Italy-based speciality chemical company Pietro Carini SpA.    More

Image

RKW buys Hyplast, folds into RKW Agri

April 15, 2014 11:13 am ET

RKW SE, a Germany-based films and flexible packaging group, has announced it has acquired Belgium's Hyplast NV.    More

Polypipe shares rise on opening day of IPO

April 15, 2014 11:06 am ET

Polypipe Group plc saw its share prices rise during its first day of public trading on the London Stock Exchange, rising from 245 pence ($4.10) to...    More

Image

US equipment firm buys Negri Bossi

April 14, 2014 1:58 pm ET

Italian plastics equipment major Sacmi Group's offerings are getting a U.S. identity. Sacmi has sold its plastics division to Kingsbury Corp., a machi...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

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

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events