INDIANAPOLIS—Firestone Building Products Co. L.L.C. reached a definitive agreement Feb. 15 to acquire Gaco Western.
Gaco produces silicone roofing systems and provides waterproofing and spray foam insulation products for a variety of commercial and residential applications.
Firestone said the acquisition strengthens its position in commercial roofing and offers positions in residential and commercial building products.
Financial details of the transaction are not being disclosed. Firestone said the deal is expected to close before the end of the first quarter 2017, subject to regulatory approvals and other customary closing conditions.
"This acquisition supports are strategic plan to penetrate high-growth adjacent product segment," Tim Dunn, president of Firestone Building Products, said in a statement. "Adding Gaco's product portfolio will expand our offering, broaden our customer base and reaffirm our commitment to being a total solutions provider."
Founded in 1955, Gaco is privately-owned and based in Seattle. It produces silicone polyurethanes, epoxies and acrylic liquid coatings for roofs, decking and waterproofing products under the GacoFlex GacoRoofFoam and GacoWallFoam.
The firm produces its products at its manufacturing, research and development facility in Waukesha, Wis.
"We have successfully built a leading position in the silicone roofing and waterproofing segments," Gaco CEO Peter Davis said in a statement. "Firestone is the clear leader within the roofing industry and has a strong vision for the broader building envelope, combining best-in-class service, product and innovation with a substantial distribution platform. We are excited at the prospects of joining Firestone as it allows us to continue to drive R&D, deliver innovative products to our customers and offer additional career opportunities to our employees."
The acquisition will allow Firestone to provide customers with additional flexible and cost-effective products. It said Gaco's silicone and acrylic liquid coatings portfolio offers an alternative for satiation when full roof tear-off and rebuild are not possible.
For contractors, Firestone said these products allow for easier and less labor-intensive installation, reducing labor costs significantly.
Firestone Building Products is part of Bridgestone Americas Inc., the largest subsidiary of Bridgestone Corp.