Carlyle Puts Roof Over Its Head

Dec 20 2006 | 11:25am ET

The Carlyle Group will pay $1 billion for roofing product manufacturer ElkCorp, the first step in its plan to create a leading roofing materials maker.

Under the terms of the deal, which still must be approved by ElkCorp shareholders, Carlyle will pay $38 per share and assume about $173 million in debt. Separately, the Washington, D.C.-based private equity firm struck a partnership agreement with Hood Cos., planning to merge ElkCorp into Hood subsidiary Atlas Roofing Corp., though the deal for ElkCorp is not contingent on completing an agreement with Atlas.

“We are eager to work with Carlyle to grow our business and see the combination with Atlas as a tremendous opportunity to expand both companies,” ElkCorp CEO Thomas Karol said.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...