Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • ITEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
February 03, 2016 01:00 AM

GAF to acquire Icopal for $1.1 billion

Chris Sweeney
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    PARSIPPANY, N.J.—GAF Materials Corp. has entered an agreement to acquire Icopal, a leading European manufacturer of roofing and other waterproofing products, from Investcorp Ltd. for about $1.1 billion.

    According to a GAF release, Icopal operates 36 production sites with 3,500 employees worldwide. It reported annual revenues of about $1.1 billion with operations and sales concentrated in Germany, England, France and Scandinavia, among other European regions.

    Both firms said the acquisition is pending regulatory approvals and projected to close by the second quarter of 2016. If approved, GAF said the combined company will be worth nearly $4 billion in sales, with 6,500 employees and operations in more than 80 countries.

    The firm's single-ply membrane business deals with a number of materials, primarily polyvinyl chloride. But a GAF spokesman confirmed that Icopal manufactures and sells thermoplastic polyolefin, selling the membrane in Germany, France, Netherlands, England and elsewhere.

    The spokesman said that Jim Schnepper, GAF's executive vice president of sales, will become the CEO of GAF's Icopal division.

    “We have tremendous respect for Icopal's talented management team, and we welcome all of Icopal's employees to the GAF family,” Bob Tafaro, GAF president and CEO, said in a statement. “It is an established European leader with a strong business mix and a well-deserved reputation for the superb quality of its products, operations and people.”

    The executive added that GAF is encouraged by Icopal's growth and strategic vision for their single-ply and liquid products.

    A GAF spokesman said the acquisition will give the firm better access to the European market, and Icopal wants to grow in the single-ply area. GAF intends to take the strategies it has used to grow its single-ply business in North America and apply them in Europe through Icopal. GAF, with 3,000 employees and 29 manufacturing plants, is one of the largest roofing manufacturers in North America with an extensive portfolio of TPO and PVC membranes.

    Icopal brings leading positions in several of Europe's strongest markets, the spokesman said. GAF's presence in Europe was mainly in coatings, but the acquisition gives GAF the platform it needs to grow in Europe through Icopal's established brands, strong manufacturing presence and state-of-the art plants.

    In North America, GAF said Icopal's Siplast business has achieved a leading position in the U.S. Siplast focuses on high-end bitumen membranes—produced using thermoplastic rubbers such as SBS—for the commercial roofing market. GAF said Siplast will continue to operate as an independent premium roofing manufacturer with an emphasis on a high level of frontlife service.

    Icopal said in its release that since being acquired by Investcorp in 2007, the firm has grown into a multi-material provider of roofing and waterproofing solutions and services. The firm said it is widely recognized in Europe as the leader in modified bitumen membranes and has a significant and growing presence in synthetic and liquid roofing products. The firm also provides products for the residential roofing, building membranes, below ground waterproofing and civil engineering markets.

    “GAF's long tradition of innovation, commitment to top quality and customer focus will complement Icopal's strengths and values,” Icopal CEO Miguel Kohlmann said in a statement. “Our customers will benefit from enhanced scale, greater breadth of products and services, improved product innovation and an unparalleled global distribution network.”

    GAF added that its parent company, Building Materials Corp. of America, will be renamed Standard Industries Inc. following the recent acquisitions of Specialty Granules Inc. and Quest Construction Products to better reflect its expanded brands and product offerings.

    Related Articles
    GAF to move corporate headquarters
    GAF moves headquarters
    GAF opens PVC line in Utah facility
    3M completes sale of polyurethane business
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Updated: Conti fined for compound mixer explosion, shears accident
    2
    Kumho on road to zero with sustainable products, operations
    3
    Stakes high as global NR industry urgently seeks alternate supply
    4
    Birla Carbon raising prices on carbon black products
    5
    Denka requests weaker chloroprene classification, but EPA won't budge
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • ITEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION