The parent company of Azek Building Products Inc. has signed a definitive agreement to acquire Foley, Ala.-based Procell Decking Systems in a $54 million deal scheduled to close in January.
Azek Trimboards, in Moosic, Pa., is the market leader in extruded cellular PVC trim and millwork products. Procell also uses cellular PVC to manufacture its deck boards. That's just one of many synergies CPG International Inc. considered when looking at pairing the companies.
``We feel like we can get together and improve the manufacturing of both'' companies, said Azek President Ralph Bruno in a Dec. 14 telephone interview.
Scranton, Pa.-based CPG officials eventually plan to combine the Procell and Azek operations. Azek is working to position itself as the owner of market-leading brands in every area of the low-maintenance, outdoor building products segment, Bruno said.
On the marketing side, the largest dealers of Azek Trimboard products also happen to be the largest dealers of Procell decking, he said.
Demand for Procell decking is so strong that the company can't fill all of the orders coming in, Bruno said. CPG's first order of business was to expand Procell's manufacturing capacity. Machine orders already have been placed, Bruno said.
``In general, it's safe to say that the capacity will double in the next 12 months, and hopefully we'll have some breakthroughs in terms of productivity on the existing equipment,'' he said.
Procell executives Chris Bardasian and Kevin Sloan will stay on as vice presidents, Bruno said. The entire workforce will be retained, and eventually, expanded, he said.
Procell officials could not be reached for comment.