Vinyl building products maker Cornerstone bought by private equity firm for $5.8 billion
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Cornerstone produces vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems, and metal accessories.
Cornerstone Building Brands Inc., said to be the largest manufacturer of exterior building products in North America, is being acquired by affiliates of private equity firm Clayton, Dubilier & Rice (CD&R) in an all-cash transaction with an enterprise value of approximately US$5.8 billion.
“We believe this transaction provides substantial value for our shareholders while also accelerating Cornerstone Building Brands’ aspiration to become a premier exterior building solutions company,” said Cornerstone president and CEO Rose Lee.
Cornerstone was founded in 2018 and is headquartered in Cary, N.C., and produces vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems, and metal accessories.
The proposed transaction, which will result in Cornerstone becoming a private company, is expected to close in the second or third quarter of 2022.
CD&R is headquartered in New York City.