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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note