Genstar Capital to Acquire International Aluminum in a $228 Million Transaction
2007年1月10日 - 10:31PM
PRニュース・ワイアー (英語)
Genstar To Leverage Previous Industry Experience To Drive Value
Creation SAN FRANCISCO, Jan. 10 /PRNewswire/ -- Genstar Capital,
LLC, a middle market private equity firm that focuses on
investments in selected segments of the industrial technology, life
sciences and business services sectors, today announced that it has
entered into a definitive agreement to acquire International
Aluminum Corporation (NYSE:IAL), a leading manufacturer of
residential and commercial aluminum building materials. Under the
terms of the agreement, shareholders will receive $53.00 per share
in an all cash deal. Founded in 1957, International Aluminum is
based in Monterey Park, CA and has three primary business lines:
Its commercial division manufactures decorative entrance doors,
store fronts, window and curtain walls, windows and impact and
blast-resistant systems; the residential division manufactures a
broad line of vinyl and aluminum windows and doors, most of which
are used in replacement or remodeling applications; and the
Company's extrusion operations manufacture mill finish, anodized
and painted extruded aluminum products for internal and external
uses. For the fiscal year ended June 30, 2006, IAL generated
revenues of more than $280 million. The Company has approximately
1,600 employees with operations conducted from 15 North American
manufacturing facilities. "International Aluminum represents the
type of investment for which we are well recognized," said Darren
J. Gold, a Managing Director of Genstar Capital. "IAL is a high
quality company operating in a sector we understand and where we
have previously created substantial value. Our successful
experience with prior investments in the building products industry
gives us unique insight into IAL's manufacturing operations,
products, customers and the overall industry and we will use that
expertise to help the Company to continue to grow." Ronald L. Rudy,
President of IAL, said, "We are pleased to be working with an
outstanding group of individuals at Genstar who understand our
business and are committed to our long term growth. Their proven
experience will be of tremendous assistance as we continue to build
the business." Genstar's investments in the building products
industry include Gentek Building Products, Inc., a manufacturer of
aluminum and vinyl siding, windows and doors; Wolverine Tube, Inc.,
a leading manufacturer of copper and copper alloy tube; and Panolam
International, Inc., a manufacturer of decorative laminates used in
both residential and commercial applications. About Genstar
Capital, LLC Based in San Francisco, Genstar Capital
(http://www.gencap.com/) is a private equity investment firm that
makes leveraged investments in quality middle-market companies.
Genstar Capital works in partnership with management to transform
its portfolio companies into industry-leading businesses. With more
than $900 million of committed capital under management and
significant experience investing in businesses, Genstar focuses on
selected segments of the life sciences, business services, and
industrial technology sectors. DATASOURCE: Genstar Capital, LLC
CONTACT: Chris Tofalli for Genstar Capital, LLC, +1-914-834-4334,
Web site: http://www.gencap.com/
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