GAF Acquires ICOPAL to form the world's largest waterproofing and roofing group.The world’s largest waterproofing and roofing group is forming. GAF, which has an extensive roofing membrane portfolio, has acquired ICOPAL Group, which is globally involved in roofing, waterproofing, and civil engineering.
Siplast, manufacturer of the Teranap bituminous geomembrane line, is part of ICOPAL, which also manufactures polyethylene geomembranes.
GAF anticipates that the deal will be fully closed within the first quarter of 2016.
In a release, GAF notes that the acquisition “will enable the combined company to leverage best practices and technologies on both sides of the Atlantic and provide GAF with new markets for both existing and complementary product offerings. … The combined company will have nearly $4 billion in sales across more than 80 countries and 6,500 employees.”
ICOPAL’s CEO Miguel Kohlmann added, “Our customers will benefit from enhanced scale, greater breadth of products and services, improved product innovation and an unparalleled global distribution network. … We are very positive about the opportunities that lie ahead of us.”
ICOPAL, with an enterprise value of approximately €1 billion, has been owned by Investcorp since 2007. ICOPAL’s engineering markets include waterproofing of bridges, roads, and railways; and geomembrane solutions for concrete and earthen canals, settling basins, embankment stabilization, dams, wastewater storage, reservoirs, and ponds.
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