US: Knauf Insulation and Guardian Industries Corp have announced that a definitive acquisition agreement has been signed for Knauf Insulation to acquire Guardian Insulation. The transaction includes Guardian Fiberglass, a supplier of insulation products for the construction market, as well as Guardian Laminated Building Products. Closing of the transaction is subject to regulatory approvals and customary closing conditions.
"We are already one of the fastest-growing insulation companies globally and this deal will firmly establish our leadership position in what is the largest insulation market in the world," said Mark Andrews, CEO of Knauf Insulation in North America. "It is an important step in our mission to become the global leader in energy efficient systems for buildings."
"We are delighted to acquire such a high quality business that fits perfectly with our growth strategy and we look forward to welcoming the Guardian Insulation team into the Knauf Insulation family," said Andrews. "This is also great news for customers of both Guardian and Knauf Insulation due to the highly complementary nature of these businesses. The combined entity will have a dramatically expanded manufacturing footprint to help provide high levels of service."
Steve Ziessler, president and CEO of Guardian Building Products, said that the purchase by Knauf is exciting news for Guardian Insulation and its employees. "We are confident that our employees, customers and suppliers can look forward to an excellent future with Knauf Insulation. Guardian and Knauf share a culture of responsibility, accountability, safety, entrepreneurship, strong leadership, innovation and value creation," said Ziessler. "We want our customers and employees to know that we anticipate a smooth transition."
