Beacon announced Feb. 10 the successful completion of the previously announced sale of its interior products and insulation businesses (“Interior Products”) to Foundation Building Materials, majority-owned by affiliates of American Securities LLC, a U.S. private equity firm. The cash sale price of $850 million is subject to certain net working capital and other adjustments.
The Interior Products divestiture accelerates the company’s ongoing efforts to improve its financial flexibility and enhances its ability to pursue strategic growth initiatives in its core exteriors business. Beacon intends to use the anticipated after-tax proceeds of approximately $750 million from this divestiture to reduce net leverage, strengthen its balance sheet and invest for growth.
