Cornerstone Building Brands Completes Acquisition of Harvey Building Products; Broadens Exposure to Repair-and-Remodel End Market
23 Abril 2024 - 6:00AM
Business Wire
Cornerstone Building Brands, Inc. ("Cornerstone Building
Brands"), one of the largest manufacturers of exterior building
products in North America, has completed its previously announced
acquisition of Harvey Building Products Corp. (“Harvey”) and its
portfolio of industry-leading brands: Harvey®, SoftLite® and
Thermo-Tech®. This strategic acquisition increases Cornerstone
Buildings Brands’ exposure to the Repair and Remodel (“R&R”)
end market and strengthens its offering in distribution and dealer
channels.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240423289502/en/
Cornerstone Building Brands completes
acquisition of Harvey Building Products, broadening its exposure to
the repair and remodel (R&R) end market and strengthening its
distribution and dealer channel offering. (Graphic: Business
Wire)
Moelis & Company LLC served as the exclusive financial
advisor and Debevoise & Plimpton LLP served as legal counsel to
Cornerstone Building Brands.
About Cornerstone Building Brands Cornerstone Building Brands is
a leading manufacturer of exterior building products for
residential and low-rise non-residential buildings in North
America. Headquartered in Cary, N.C., we serve residential and
commercial customers across the new construction and Repair and
Remodel markets. Our market-leading portfolio of products spans
vinyl windows, vinyl siding, stone veneer, metal roofing, metal
wall systems and metal accessories. Cornerstone Building Brands’
broad, multi-channel distribution platform and expansive national
footprint includes approximately 18,000 employees at manufacturing,
distribution and office locations throughout North America.
Corporate stewardship and Environmental, Social and Governance
responsibility are embedded in our culture. We are committed to
contributing positively to the communities where we live, work and
play. For more information, visit us at
cornerstonebuildingbrands.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements and information in this communication may
constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as
“believe,” “anticipate," “guidance,” “plan,” “potential,” “expect,”
“should,” “will,” “forecast,” “target” and similar expressions are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect our current expectations,
assumptions and/or beliefs concerning future events. As a result,
these forward-looking statements rely on a number of assumptions,
forecasts and estimates, and therefore, these forward-looking
statements are subject to a number of risks and uncertainties that
may cause Cornerstone Building Brands’ actual performance to differ
materially from that projected in such statements. Among the
factors that could cause actual results to differ materially
include, but are not limited to: our ability to maintain
relationships with customers, suppliers and other business
partners; the effect of the transaction on our operating results
and business; our ability to implement plans, achieve forecasts and
meet other expectations with respect to the combined business and
realize expected synergies; unexpected costs, charges and expenses;
our ability to successfully integrate Harvey’s operations;
difficulties in retaining and hiring key personnel and employees
due to the transaction and business combination; and the diversion
of management time on integration. In addition to these factors, we
encourage you to review the “Risk Factors” set forth in the our
Annual Report on Form 10-K for the fiscal year ended December 31,
2023, and other filings with the U.S. Securities Exchange
Commission, which identify important factors, though not
necessarily all such factors, that could cause future outcomes to
differ materially from those set forth in the forward-looking
statements set forth in this communication. Cornerstone Building
Brands expressly disclaims any obligation to update these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240423289502/en/
Corporate Development: Will Price, Vice President,
Corporate Development & Integration
response@cornerstone-bb.com
Investor Relations: Mohsin Syed, Vice President,
Corporate Finance & Investor Relations
response@cornerstone-bb.com
Media Relations: Gia Oei, Vice President, Corporate
Communications & Culture response@cornerstone-bb.com