CPG International Inc. announced the signing of a definitive agreement to acquire TimberTech, a subsidiary of the Crane Group and well-known manufacturer of high-quality, low-maintenance decking, railing, and accessory products. CPG International is the parent company of AZEK Building Products, a manufacturer of premium, low-maintenance exterior products that includes decking, railing, porchboards, trim, mouldings, and recycled composite pavers.
TimberTech products (shown) include Radience Railing, Earthwood and Evolutions decking.
TimberTech makes wood plastic composite (WPC) and PVC decking, railing, and fencing. AZEK manufactures a complete line of decking, mouldings, and trim products formulated from cellular PVC and designed to replace wood, metal, and other traditional materials in a variety of construction applications. The company also produces it AZEK Vast composite pavers, which are made from 95% post-consumer recycled scrap tires and plastic.
“The ultimate goal is for our AZEK business and TimberTech to join forces,” said Eric K. Jungbluth, CEO of CPG. “We believe this powerful combination will not only create the largest manufacturer in the trim, decking, and railing market, but will also create a premier company in the industry as both entities manufacture highly engineered, outdoor living-solution products that offer exceptional aesthetics, performance and longevity.”
Both AZEK Building Products and TimberTech have distribution partners across the U.S. and Canada and strong brand recognition in the building products market, making this combination of companies “a great fit,” according to Jungbluth.
“While AZEK has led the conversion from wood exterior trim and decking to cellular PVC, TimberTech has been a strong force and pioneer in composite decking since the category began,” Jungbluth added. “We consider this a merger of equals—a winning combination that will help advance the entire industry.”
The acquisition is expected to be finalized in September. Barclays served as financial advisor to CPG.