CARLYLE GROUP SAID IS MULLING OPTIONS FOR TAMKO, INCLUDING SALE
(Bloomberg) -- Carlyle Group Inc. and the family owners of Tamko Building Products are considering a sale that could value the maker of roof shingles at more than $3.5 billion, according to people familiar with the matter.
The investment firm is working with an adviser to review strategic options for the Galena, Kansas-based company, said the people, who asked not to be identified because they weren’t authorized to speak publicly.
Carlyle bought a minority stake in the business in 2019 for an undisclosed sum. The potential transaction is being evaluated in tandem with Tamko’s majority owner, the family of Chairman and Chief Executive Officer David Humphreys. Carlyle hasn’t started an auction process and the ownership may ultimately decide not to sell, the people said.
A representative for Carlyle declined to comment. Representatives for Tamko and the Humphreys family didn’t respond to requests seeking comment.
Should a sale of Tamko materialize, it would add to a string of deals in the building products sector as larger firms look to consolidate the roofing space.
These include Holcim Ltd.’s purchase of Duro-Last Inc. and Bridgestone Corp.’s Firestone Building Products unit. Owens Corning reached an accord to buy for Masonite International Corp. for $3.9 billion in February.
Carlyle purchased its stake in Tamko through its long-dated fund Carlyle Global Partners. The Humphreys family retained ownership of the composite decking business, running it as a stand-alone firm.
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2024-04-26T17:24:16Z dg43tfdfdgfd
