Jul 30 2015
Saint-Gobain, through its subsidiary, CertainTeed Gypsum, today announced an agreement to purchase Structus Building Technologies, Inc. (SBTI) of Bend, Oregon, a manufacturer of innovative, high-performance drywall corner solutions.
Founded in 1996, Structus designs and manufactures a preferred line of products that enhances and supports finishing in the drywall industry. The company's leading products include No-Coat® structural laminate drywall corners, AquaBead and Hydrotrim® water-activated corners, Optimus Drywall Corner Reinforcement, EasyFlex™ Flexible Corner Bead, AutoPRO drywall finishing machines, Ultraflex™, Ultratrim™, Ultra Arch™, Ultratool™ drywall finishing tools and accessories, and Levelline® drywall corner trim. Structus is a private label supplier of AquaBead, Optimus and EasyFlex to CertainTeed Gypsum in North America and in Europe to CertainTeed's parent company, Saint-Gobain.
"Structus gives our business three vital elements — a dedicated employee base committed to driving innovation every day, a tremendous product portfolio, and above all else, an entrepreneurial and customer-focused spirit," says Dave Engelhardt, president of CertainTeed Gypsum. "Driven by founder Tim Smythe and CEO Bill Scannell, Structus has ushered in a new technological era, revolutionizing the way the building industry designs and constructs wall systems. And, as a private label partner for the last six years, this purchase is a natural fit for our company and our future."
"When I considered selling the business a number of months ago, I wanted to find a buyer who shared my vision for making products better and making the job of the drywall installer easier," said Smythe. "I found it in a partner I can trust—CertainTeed Gypsum—a partner committed not only to products, but to our people, our culture and our vision for the future. In addition, I'm extremely grateful to Zachary Scott & Co, a trusted financial advisor to our shareholders for nearly a decade who has been a key partner in this sale transaction."
Structus includes a single manufacturing location in Bend, Oregon with 60 employees. Terms of the agreement were not disclosed.
"Innovation is a key driver throughout CertainTeed's wallboard business as demonstrated through products like AirRenew®, which actively cleans indoor air spaces," adds Engelhardt. "Structus helps further position CertainTeed Gypsum as the leader in finishing solutions as well, with a suite of innovative, high performance products that are easy to install, improve room aesthetics and eliminate impact damage and edge-cracking callbacks."
This acquisition opens additional opportunities for Structus products to be sold through CertainTeed Gypsum's sister businesses globally. CertainTeed Gypsum's parent Saint-Gobain is the leading drywall manufacturer in the world.
Source: http://www.certainteed.com/