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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note