Chicago — Azek Co., a major manufacturer of decking and related products, is planning an initial public offering.
The Chicago-based company, legally named CPG Newco LLC, will use the proceeds to redeem its outstanding 8 percent senior notes that are due in 2021, and for general corporate purposes.
"Azek has not yet determined the offering price and the number of shares to be offered," the company said in a Jan. 6 news release. The timing and other terms of the proposed IPO remain subject to market and other conditions, the company said.
Azek CEO Jesse Singh could not be reached for comment.
Azek's building products brands include TimberTech, Azek, Vycom and Scranton Products. In 2018, the company bought Versatex Holdings LLC, a maker of trim products including molding, corner boards, beaded profiles and soffit. Last year Azek opened a recycling facility in Wilmington, Ohio, to supply polyethylene for its TimberTech-brand composite decking.
Azek bought TimberTech from Crane Group in 2012.
Plastics News ranks Azek as North America's seventh largest company in the most recent ranking of pipe, profile and tubing extruders, with estimated sales of $515 million — all from profiles.