Australia’s James Hardie Industries PLC has announced plans to acquire U.S.-based AZEK Company Inc. in a deal worth $8.8 billion. The acquisition is set to create a global leader in high-performance building solutions, combining James Hardie’s expertise in fiber cement siding with AZEK’s market-leading position in composite decking and railing. The deal is expected to strengthen James Hardie’s presence in the U.S. market and accelerate its growth in the exterior building products segment.
James Hardie CEO Jack Truong expressed excitement about the acquisition, stating that it aligns with the company’s strategy to expand its product portfolio and geographic reach. The combination of James Hardie and AZEK will create a more diversified business with a strong foothold in the residential construction market. Truong emphasized that the deal will enable the company to offer a comprehensive range of high-quality products to customers across the globe.
AZEK CEO Jesse Singh highlighted the strategic fit between the two companies, noting that both share a commitment to innovation, sustainability, and customer satisfaction. Singh stated that the acquisition by James Hardie will provide AZEK with access to additional resources and expertise to drive further growth and innovation. The combined entity is expected to benefit from synergies in manufacturing, distribution, and research and development.
The acquisition of AZEK represents a significant milestone for James Hardie as it seeks to expand its presence in the U.S. market and capitalize on the growing demand for high-performance building products. The deal is subject to regulatory approvals and is expected to close in the first quarter of 2021. James Hardie’s acquisition of AZEK is set to reshape the landscape of the building products industry, creating a powerhouse in the exterior building solutions space.
Australia’s James Hardie Industries has announced its plans to acquire U.S.-based AZEK Company in a deal worth $8.8 billion. The acquisition marks James Hardie’s entry into the U.S. building products market and is expected to significantly expand its presence in North America. This strategic move reflects James Hardie’s commitment to growth and innovation in the industry, as it seeks to capitalize on the strong demand for high-performance building products in the U.S.
Founded in 1983, AZEK Company is a leading manufacturer of premium, low-maintenance exterior building products, including decking, railing, trim, moulding, and siding. The company’s products are known for their durability, sustainability, and aesthetic appeal, making them a popular choice among homeowners, contractors, and builders. With a strong presence in the U.S. market, AZEK Company’s acquisition will provide James Hardie with a solid platform to further expand its product offerings and reach a wider customer base.
The $8.8 billion deal is expected to be completed by the end of the year, subject to regulatory approvals and other customary closing conditions. Upon completion, AZEK Company will operate as a standalone business unit within James Hardie, allowing it to retain its brand identity and organizational structure. The acquisition is expected to create significant synergies and growth opportunities for both companies, as they leverage their complementary capabilities and expertise to drive innovation and customer value.
Overall, the acquisition of AZEK Company by James Hardie Industries represents a major milestone for both companies and the building products industry as a whole. The deal is expected to enhance James Hardie’s competitive position in the U.S. market and drive long-term value creation for shareholders. With a shared commitment to quality, sustainability, and customer satisfaction, James Hardie and AZEK Company are well-positioned to capitalize on the growing demand for high-performance building products and deliver innovative solutions to meet the evolving needs of customers worldwide.
Australia’s leading building materials company, James Hardie Industries, has announced its plans to acquire U.S.-based AZEK Company in a deal worth $8.8 billion. This acquisition marks a significant move for James Hardie as it seeks to expand its presence in the North American market. The deal is expected to be completed by the end of the year, pending regulatory approval and other customary closing conditions. The acquisition will allow James Hardie to diversify its product offerings and strengthen its position in the industry.
Founded in 2001, AZEK Company is a leading manufacturer of premium building products, including decking, railing, trim, and moulding. The company has a strong presence in the residential construction market in the U.S. and has experienced steady growth in recent years. By acquiring AZEK, James Hardie will be able to leverage the company’s innovative product portfolio and strong brand recognition to drive further growth and capture a larger share of the market.
James Hardie’s decision to acquire AZEK comes at a time when the construction industry is experiencing a boom in demand for building materials. With the rise in home renovations and new construction projects, there is a growing need for high-quality, durable building products. By acquiring AZEK, James Hardie will be able to meet this demand and offer customers a wider range of products to choose from, further solidifying its position as a market leader in the industry.
Overall, the acquisition of AZEK by James Hardie represents a strategic move that will benefit both companies in the long run. By combining their strengths and resources, the two companies will be able to capitalize on the growing demand for premium building products in the North American market. With a focus on innovation and quality, James Hardie and AZEK are well-positioned to drive continued growth and success in the years to come.
