Fortune Brands Completes Acquisition of Fiberon as Part of Doors & Security Segment

DEERFIELD, Ill.–(BUSINESS WIRE)–Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading home and security products company, today announced it completed the acquisition of Fiberon, LLC, a leading manufacturer of outdoor performance materials used in decking, railing and fencing products. Fortune Brands announced an agreement to acquire Fiberon on August 23, 2018. Fiberon is now part of Fortune Brands’ Doors & Security segment.

The Company completed the acquisition for a purchase price of approximately $470 million, which was funded with cash on hand and borrowings under its revolving credit and term loan facilities. In 2017, Fiberon had approximately $200 million in annual sales. Fiberon has approximately 475 associates with offices and operations in Meridian, Idaho and New London, North Carolina. Fortune Brands expects to maintain Fiberon’s current operations and locations.

About Fortune Brands

Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, Ill., creates products and services that fulfill the dreams of homeowners and help people feel more secure. The Company’s operating segments are Plumbing, Cabinets and Doors & Security. Its trusted brands include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon outdoor performance materials, and Master Lock and SentrySafe security products. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index. For more information, please visit www.FBHS.com.

Contacts

INVESTOR and MEDIA CONTACT:
Fortune Brands Home & Security, Inc.
Kaveh Bakhtiari
847-484-4573
kaveh.bakhtiari@FBHS.com

Fortune Brands Signs Agreement to Acquire Fiberon; Marks Entry into Fast Growing Outdoor Living Market within New Doors & Security Segment

DEERFIELD, Ill.–(BUSINESS WIRE)–Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading home and security products company, today announced it has signed an agreement to acquire Fiberon, LLC, a leading manufacturer of outdoor performance materials used primarily in decking, railing and fencing products. Fiberon will join Fortune Brands’ new Doors & Security segment on closing and has agreed to be acquired for approximately $470 million.

“The acquisition of Fiberon provides exciting category expansion and product extension opportunities for our Doors & Security segment into the outdoor living space— one of the fastest growing areas of the home,” said Chris Klein, chief executive officer, Fortune Brands. “Fiberon brings leadership in performance materials sustainably made in the U.S.A. from recycled materials. Similar to Therma-Tru’s leadership in advanced material doors, Fiberon has built its business in the most attractive segment of the decking category– non-wood, capped composites.”

The $2.5 billion decking market is a critical part of outdoor living spaces with growing conversion to non-wood materials. Capped composite non-wood products where Fiberon has focused its business are growing at nearly 10% annually and now represent approximately one quarter of the decking market. This exceptional growth is driven by demand for innovations in finishes, textures, colors and styles coupled with low maintenance and lasting durability versus traditional wood.

“Our Doors & Security platform has the scale and capabilities to further Fiberon’s penetration of the market across our existing customers and distribution channels in this growing market segment,” said Klein. “Our execution and momentum within our Therma-Tru door brand coupled with Fiberon’s successful business model and product line create an exciting opportunity to accelerate growth and value creation. The acquisition is expected to be accretive to earnings by approximately 5-6 cents in 2019 and approximately 9-10 cents in 2020.”

“Fortune Brands’ strong distribution, commitment to brands, innovation and design, and superior execution are a powerful combination to drive sales and profit growth,” said Doug Mancosh, chief executive officer and president, Fiberon. “We are excited to join Fortune Brands and create new opportunities for Fiberon to thrive.”

In 2017, Fiberon had approximately $200 million in annual sales. Fiberon has approximately 475 associates with offices and operations in Meridian, Idaho and New London, North Carolina. The Company plans for Fiberon to operate as a part of the Doors & Security segment.

The closing of the transaction is subject to regulatory approval and is expected to occur within the next 30 days.

About Fortune Brands

Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, Ill., creates products and services that fulfill the dreams of homeowners and help people feel more secure. The Company’s operating segments are Plumbing, Cabinets and Doors & Security. Its trusted brands include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems; and Master Lock and SentrySafe security products under The Master Lock Company. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index. For more information, please visit www.FBHS.com.

Cautionary Statement Concerning Forward-Looking Statements

This release contains certain “forward-looking statements” regarding future financial performance and the effects of the Fiberon acquisition. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements including the factors discussed in Item 1A of the Fortune Brands Home & Security, Inc. Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission. In addition, this release contains forward-looking statements that involve risks and uncertainties associated with the acquisition. These include: the satisfaction of closing conditions for the transaction, market conditions and the impact of any failure to complete the transaction. The forward-looking statements included in this release are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date hereof.

Contacts

Fortune Brands Home & Security, Inc.
INVESTOR and MEDIA CONTACT:
Kaveh Bakhtiari
847-484-4573
kaveh.bakhtiari@FBHS.com

AZEK® Building Products Announces Acquisition of WES, LLC

Leading manufacturer of premium residential decking acquires parent company of UltraLox Technologies and Harmony Railing

KOKIE, Ill.Dec. 20, 2017 /PRNewswire/ — AZEK Building Products, No. 1 in premium decking and a leading manufacturer of high performance, low-maintenance outdoor building materials under the AZEK® and TimberTech® brands, announced today an agreement to acquire WES, LLC.  A leader in the aluminum railing industry, WES, LLC sells engineered railing systems and assembly machines under UltraLox, Harmony and other brands. The transaction is expected to close before Dec. 31, 2017.

 “We are very excited to make this announcement and about what this transaction represents for both AZEK Building Products and UltraLox,” said Jesse Singh, CEO of CPG International, AZEK Building Products’ parent company.  “While UltraLox will continue to operate as a separate company with its existing management team, we are bringing additional resources to support the growth of the company through enhanced service levels to its customers and ongoing product and market development.  In addition, we expect to leverage the expertise of the UltraLox team in aluminum railing design and engineering to further develop the AZEK and TimberTech railing products.”

The partnership will benefit consumers by offering a wider selection in railing products at various price points. Both companies will now also be able to leverage a combined knowledge of best practices in research, design and safety.”I know I speak for the entire UltraLox team when I say that we are proud to be joining forces with AZEK Building Products,” said Edward Peterson, SVP of Sales and Marketing for UltraLox. “For our customers, we will be in an even stronger position to help support their growth and business. And, for our employees, this opens up a range of potential future career growth opportunities.”

Headquartered in Skokie, Illinois, just outside of Chicago, AZEK Building Products develops and manufactures advanced building materials engineered to be superior alternatives to wood and other traditional materials.

WES, LLC headquartered in Eagan, Minnesota is a leader in the development of aluminum railing, porch and patio products for the residential and commercial markets.  In addition to finished rail systems sold under the Harmony and other brand names, the company developed and markets the UltraLox Interlocking™ machine that allows customers to assemble standard and custom aluminum railing for a wide array of applications.

About AZEK® Building Products:  

AZEK Building Products is a leader in the development of premium, low maintenance exterior building products. Available to a worldwide audience, our product lines span AZEK Trim, Decking, Railing, Moulding, Porch, Pavers and Adhesives, as well as capped wood composite Decking and Railing under the TimberTech brand. Both brands, synonymous with quality and innovation and made in America, lead their market areas by continually reinventing product lines and redefining entire product categories. For more information about AZEK, visit www.azek.com. For more information on TimberTech, visit www.timbertech.com.

SOURCE AZEK Building Products

Pan American Screw Acquires Western Builders Supply

FOR IMMEDIATE RELEASE

August 5, 2015

 Pan American Screw Acquires Western Builders Supply

CONOVER, N.C. – Pan American Screw LLC is pleased to announce the acquisition of Western Builders Supply, Inc. (WBS) of Billings, Montana.

WBS distributes a full line of construction fasteners direct to lumberyards, home centers, and farm and ranch supply businesses in the North Central and Rocky Mountain states. WBS has been a family-owned business since 1945 and current CEO Rob Saunders will remain with WBS during a transition period.

Pan American Screw, a Marmon/Berkshire Hathaway company, currently supplies fasteners under three industry leading brands: Deerwood Fasteners, Sure Drive USA, and Co-Op Screw. “The WBS product line will add tremendous value to our product offering and strengthen our position in the marketplace,” said Gene Dagenhart, President of Pan American Screw.

WBS specializes in star drive construction screws and specialty structural fasteners widely recognized in the construction industry and sold under the Big Timber® brand. “The WBS best in-class packaging has great shelf appeal and will add value for both our new and current Pan American Screw customers,” said Phil Lail, Pan American Screw General Manager.

Dale Rife, a 12-year veteran of Pan American Screw and currently VP Finance, will relocate to Montana to lead WBS. “My goal is to continue the WBS tradition, begun by the Saunders family, of superior products and customer service while continuing to grow sales and expand the company,” Rife said.

Pan American Screw welcomes the employees and customers of WBS. For more information regarding Pan American Screw, visit www.panamericanscrew.com and for more information on WBS, visit www.wbsmontana.com.

FastenMaster® Acquires Tiger Claw®

Agawam, MA – March 25, 2011 | OMG, Inc., a subsidiary of Handy & Harman Ltd, has acquired the business and assets of Tiger Claw, Inc. of Bristol, CT. OMG is a leading manufacturer and supplier of fasteners and building products. The announcement was made by Hubert McGovern, OMG’s President.

Tiger Claw will become a part of OMG’s FastenMaster division.

Founded in 2001, Tiger Claw has grown to become the market leading brand of concealed deck fastening clip systems. The Tiger Claw product line includes the TC3 clip for wood and non-grooved deck boards and the TCG clip for grooved deck boards. Many of these products are available under both the Tiger Claw and private label brand names. In addition, in 2008, Tiger Claw introduced the TC Gun, a pneumatic installation tool. The TC Gun has allowed deck builders to dramatically reduce deck fastener installation time.
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Grabber Nails Down HS Fasteners Acquisition

Acquisition adds professional-quality nails and tools to Grabber line of product offerings

September 3, 2010 | Grabber Construction Products, recognized for its professional-grade fasteners and construction products, has made yet another connection. The company announced its acquisition of the Fasteners division of Hickory Springs Manufacturing Company (HS Fasteners). Products from HS Fasteners will now be sold through Grabber’s international distribution system expanding its services and products to customers in the Carolinas and surrounding areas.

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