GAF to Acquire Roofing Products Supplier FT Synthetics
authors QR Staff | September 8, 2021
GAF, the Parsippany, NJ-based roofing and waterproofing products manufacturer, has signed a definitive agreement to acquire FT Synthetics, a manufacturer of synthetic underlayments for the steep-slope roofing industry, the company announced.
Terms of the acquisition were not disclosed.
After completing the transaction, GAF will invest in scaling operations and in fueling sustained growth of the British Columbia-based FT Synthetics, corporate officials said. FT Synthetics will continue to operate as an independent business within the GAF portfolio, officials added.
“FT Synthetics and GAF share a deep commitment to the roofing industry,” said Jim Schnepper, CEO of GAF, a business unit of global building products manufacturer Standard Industries.
“This acquisition will enable GAF to pursue our shared goals of continued innovation and explore opportunities for expanded product offerings that support the entire building envelope,” Schnepper added.