Oldcastle BuildingEnvelope (OBE), today announced it has been acquired by KPS Capital Partners LP (KPS), a leading global private equity firm with expertise in investing across a range of manufacturing industries. Formerly a CRH company, OBE is the leading vertically integrated manufacturer, fabricator and distributor of architectural hardware, glass and glazing systems in North America.
Headquartered in Dallas, OBE is a world-class building products company with significant presence in every major metropolitan statistical area in the U.S. and Canada. OBE delivers products to a broad customer base of architects, glaziers, contractors and developers serving diversified residential and commercial construction end-markets.
“The entire OBE management team looks forward to partnering with KPS as we begin our journey as an independent company,” said Liz Haggerty, Chief Executive Officer of OBE. “KPS has an exemplary track record of investing in and improving manufacturing businesses, and we are exceedingly confident that they are the right partner to help us execute on our strategic plan. We will continue to build on our industry-leading reputation for quality, reliability and product innovation. KPS’ experience with manufacturing businesses and the significant capital resources available will allow us to continue our investment in our commercial and operational growth strategy. We intend to expand our capabilities as a customer-oriented solutions provider in architectural hardware, glass and glazing markets. We are excited about OBE’s future opportunities, and we have found a great partner in KPS to capture them.”
“We are thrilled to acquire North America’s largest provider of architectural hardware, glass and glazing systems. OBE is the only ‘one-stop shop’ for every critical product a glazing industry customer needs, and they serve attractive, growing end-markets,” said Raquel Vargas Palmer, Managing Partner of KPS. “We intend to drive profitable growth by providing OBE with the financial resources to invest in commercial and operational excellence. We will leverage KPS’ decades of manufacturing expertise to create an entrepreneurial culture centered on innovation, continuous improvement and excellent customer experience. OBE has demonstrated a strong ability to integrate synergistic acquisitions over the past several decades and we will provide strategic support and capital in pursuit of future growth opportunities. We look forward to partnering with OBE’s talented employees and management team under the leadership of CEO Liz Haggerty to accelerate value creation opportunities.”