Building Material and Spray Foam Manufacturer Henry Company Acquired by Graham Partners
The company will keep its current leadership in place.
EL SEGUNDO, CA–July 13, 2012–It was made official on June 27, 2012 that Henry Company, a leading manufacturer of roofing and building envelope systems, had been acquired by Graham Partners, a Philadelphia-based private equity firm. Graham was joined in the acquisition by private equity firm OceanBridge Partners and Henry Company stakeholders, which included current management and former owners.
Henry Company claims to have "one of the largest manufacturing footprints in North America." The company is known in the spray foam industry for its PERMAX line of spray polyurethane foam, primer and elastomeric coatings. Additionally, Henry manufactures building materials for roofing, air and vapor barriers, waterproofing, sealants, driveway products, and performance adhesives.
Graham Partners's strategy lies in acquiring "fast-growing manufacturing-related businesses...especially where Graham can utilize its extensive operating resources and industrial network to add value." Graham Partners specifically cited increasingly tightened building regulations as the driving force behind prospecting companies that produce high-performing building products.
Rob Newbold, Managing Principal at Graham Partners, summarized Henry Company's attractive potential by noting "under very capable leadership, Henry delivered solid performance over the past several years in spite of the difficult market environment."
Henry Company will retain Brian Strauss as President and CEO, in addition to keeping in place its existing senior management team.
About Henry Company LLC: Headquartered in El Segundo, California, Henry Company is a leader in Building Envelope Systems. Henry products control the flow of water, vapor, air, and energy through the entire building envelope, from foundation to roof. Henry understands the principles of integrating air and vapor barrier, roofing, and waterproofing systems to ensure superior building performance. Henry professionals offer designers, contractors, and building owners a combination of technical experience and a commitment to provide quality products. For more than 75 years, Henry has been the trusted source for a variety of building solutions.
About Graham Partners: Graham Partners is a private investment firm focused on investing in companies with proprietary technologies, advanced manufacturing know-how, innovative product development capabilities, and exceptional growth potential. Graham Partners targets businesses with revenues between $30 million and $500 million, and will invest in smaller companies to the extent they complement one or more of its other holdings. Since the firm's founding in 1988, Graham Partners has closed over sixty acquisitions, joint ventures, financings and divestitures. Today, the committed capital of the Graham Partners funds and Graham led co-investments totals approximately $1.6 billion. Investors include university endowments, charitable foundations, financial institutions and private investors. Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise as a member of The Graham Group, an alliance of independently owned and operated industrial and investment management businesses that share in the common legacy of entrepreneur Donald C. Graham.