Hellman & Friedman to Acquire Associated Materials

by bkrigbaum@solagroup.com


, Ohio
, Sept. 8, 2010 /PRNewswire/ —
Associated Materials, LLC, majority owned by affiliates of Investcorp and
Harvest Partners, announced that it has signed a definitive agreement to be
acquired by affiliates of Hellman & Friedman LLC in a transaction valued at
approximately $1.3 billion. The transaction is expected to close in the fourth
quarter of 2010 and is subject to customary conditions.


Associated Materials is a leading
manufacturer of exterior residential building products, which are distributed
through company-owned distribution centers and independent distributors across
North America. The company produces a broad
range of vinyl windows, vinyl siding, aluminum trim coil, aluminum and steel
siding and accessories, as well as vinyl fencing and railing. The company’s
brand names include Alside, Revere and Gentek.


“We are excited to be partnering
with Hellman & Friedman,” said Tom Chieffe, President and Chief Executive
Officer of Associated Materials. “The Hellman & Friedman team has an
impressive track record, understands our business and shares our vision for the
future of the Company. We look forward to working closely with them to pursue
our strategic objectives and continue our strong customer focus.”


“With its vertically integrated
distribution model and innovative product lines, Associated Materials is
uniquely positioned to serve exterior contractors in the remodeling and new
construction markets,” said Erik Ragatz, Managing Director at Hellman &
Friedman. “The Company’s outstanding culture and singular focus on helping
contractors grow their businesses has resulted in deep customer relationships.
We are extremely pleased to have the opportunity to partner with Tom and the
rest of the management team at Associated Materials.”


Lars Haegg, Managing Director at
Investcorp, and Ira Kleinman, Senior Managing Director of Harvest Partners said,
“We are proud to have been part of Associated Materials’ successful history. The
Company is run by an excellent management team which has consistently delivered
superior products and services to its customers. We are confident Hellman &
Friedman will be an ideal partner in the next stage of the Company’s


Deutsche Bank Securities Inc. and
affiliates and UBS Investment Bank have provided commitments to finance the
transaction. UBS Investment Bank is acting as financial advisor to Hellman &
Friedman and Simpson Thacher & Bartlett LLP is acting as legal advisor.
Deutsche Bank and Barclays Capital are acting as financial advisors to
Associated Materials and Gibson, Dunn & Crutcher LLP is acting as legal


About Associated

Associated Materials is a
leading, vertically integrated manufacturer and distributor of exterior
residential building products in the United
and Canada. The Company’s core products
include vinyl windows, vinyl siding, aluminum and steel siding, and accessories.
The Company’s products are marketed on a wholesale basis to more than 50,000
independent contractors through a network of 119 company-operated supply centers
and approximately 250 independent distributors across the U.S. and Canada. The Company’s brand names
include Alside®, Revere® and Gentek®. For more information, please visit the
Company’s website at www.associatedmaterials.com.


About Hellman &

Hellman & Friedman LLC is a
leading private equity investment firm with offices in San
, New York and London. Since its founding
in 1984, Hellman & Friedman has raised over $25 billion of committed
capital. The Firm focuses on investing in superior business franchises and
serving as a value-added partner to management in select industries including
energy & industrials, software, business & marketing services, internet
& digital media, financial services, insurance, media, and healthcare.
Recent investments include: Goodman Global, Inc., Kronos Incorporated, Emdeon
Business Services, Catalina Marketing Corporation, and Getty Images, Inc. For
more information on Hellman & Friedman, visit www.hf.com.

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