Vinyl siding manufacturer Associated Materials LLC is looking for a buyer/investor, according to a report from TheDeal.com. (subscription required). The Deal's Vipal Monga writes that the Cuyahoga Falls, Ohio-based company "seems to be looking at the world through rose-colored glasses," by looking to sell itself for about $1.3 billion. Why is that number -- about 9 times projected Ebitda -- raising eyebrows? According to Monga's sources, it's because the company's Ebitda projections look very aggressive. "We're not seeing enough signs of improvement in housing to justify any of those numbers," said unnamed source at a private equity firm told Monga. According to the report, remaining bidders interested in Associated Materials include Clayton Dubilier & Rice LLC, Hellman & Friedman LLC, CVC Capital Partners, TPG Capital and Madison Dearborn Partners.
Associated Materials in play?
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