June 11, 2014: Knauf Insulation to Acquire Guardian Insulation
Transaction Includes Guardian Fiberglass
SHELBYVILLE, Ind., and AUBURN HILLS, Mich. — Knauf Insulation and Guardian Industries Corp. announced that a definitive acquisition agreement has been signed for Knauf Insulation to acquire Guardian Insulation. The transaction includes Guardian Fiberglass, a leading supplier of insulation products for the construction market, and Guardian Laminated Building Products.
Mark Andrews, CEO of Knauf Insulation in North America, said, “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. 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. Customers for both companies will also benefit from Knauf Insulation’s industry-leading technology as we further invest in these plants.”
Steve Ziessler, president and CEO of Guardian Building Products, said, “We are confident 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.”
Closing of the transaction is subject to certain regulatory approvals and customary closing conditions.
For more information, visit www.knaufinsulation.us.
Publication date: 6/9/2014