S-5!-March-2022
petersen-skyscraper-september-2022

Industry News

News Home

NCI Building Systems Completes Acquisition Of CENTRIA

NCI-and-CENTRIA-logos-184.jpgHouston, TX - NCI Building Systems, Inc. (NYSE: NCS), one of North America's largest integrated manufacturers of metal products for the nonresidential building industry, announces that it has closed its previously announced acquisition of CENTRIA, a leading provider of architectural insulated metal panel (IMP) wall and roof systems and coil coating services for a net cash price of $245 million. NCI intends to immediately begin cross-company integration.

Norm-Chambers
Norm Chambers

Norman C. Chambers, NCI's Chairman, President and Chief Executive Officer, commented, "We are pleased and proud to welcome CENTRIA into the NCI family, and expect significant opportunities for growth and margin-expansion as insulated metal panels continue to gain share in the underpenetrated North American nonresidential construction market. The acquisition of CENTRIA underscores NCI's long-standing commitment to strengthen its position as a leading manufacturer of insulated metal panel products for the cold storage, commercial and industrial and architectural metal panel markets. We see significant opportunities to leverage CENTRIA's position in the architectural IMP segment of the nonresidential market for the benefit of our loyal customer base and all of our stakeholders."

As previously disclosed, CENTRIA is expected to be accretive to NCI's earnings beginning in the fourth quarter of fiscal 2015, excluding transaction related charges and amortization of short-lived intangibles, and is expected to yield annualized run-rate synergies of approximately $7 million within 18 to 24 months of closing. In addition, as a result of the CENTRIA acquisition, NCI expects to receive incremental tax basis in the assets of CENTRIA estimated to be $200 million, expected to result in reductions to NCI's cash payments for income taxes over the next several years. After adjusting for targeted annualized synergies and the tax cash flow benefit, the adjusted purchase price is approximately 7 times CENTRIA's trailing twelve month EBITDA as of September 30, 2014.

About Cornerstone Building Brands

cornerstone-logoCornerstone Building Brands manufactures exterior building products for residential and low-rise non-residential buildings in North America. For more information, visit www.cornerstonebuildingbrands.com.




^ Back To Top