Associated Materials Group withdraws plan for initial public offering

Scott Suttell
CRAIN'S CLEVELAND BUSINESS

Published: April 16, 2014 10:16 am ET
Updated: April 16, 2014 10:19 am ET

Related to this story

Topics Construction Mergers & Acquisitions Pipe/Profile/Tubing Windows & doors
Companies & Associations

Associated Materials Group Inc. of Cuyahoga Falls, Ohio, a manufacturer and distributor of exterior residential building products in the United States and Canada, has withdrawn its plan for an initial public offering.

Last July, the company, which is owned by buyout firm Hellman & Friedman LLC, filed with the U.S. Securities and Exchange Commission for an IPO of up to $100 million.

But in a filing with the SEC on Tuesday, April 15, Associated Materials said, “A determination has been made not to proceed with the initial public offering.”

Associated Materials did not say why it was pulling the planned IPO.

The Wall Street Journal reported that on the same day Associated Materials withdrew its IPO, three other companies priced their initial public offerings below the expected price range. Those snags “are the latest sign of how soft investor demand is roiling a once-hot part of the market, amid a pullback in technology shares and other onetime highfliers,” The Journal said.

Associated Materials was founded in 1947. It recorded $1.2 billion in sales for the 12 months ended Sept. 28, 2013.

The company produces vinyl windows, vinyl siding, vinyl railing and fencing, aluminum trim coil, aluminum and steel siding and related accessories. It also sells complementary products made by third parties, such as roofing materials, cladding materials, insulation, exterior doors, and installation equipment and tools.


Comments

Associated Materials Group withdraws plan for initial public offering

Scott Suttell
CRAIN'S CLEVELAND BUSINESS

Published: April 16, 2014 10:16 am ET
Updated: April 16, 2014 10:19 am ET

Post Your Comments


Back to story


More stories

Image

Economic déjà vu: strong spring growth expected after a rough winter

April 15, 2015 2:03 pm ET

The long, harsh winter is finally over, and the first quarter of the calendar is history. So now is an appropriate time to review the emerging trends ...    More

Image

BASF bullish on North American auto market

April 13, 2015 11:44 am ET

The North American performance materials unit of BASF SE expects its 2015 growth to come from the automotive, consumer and industrial markets.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events