March 29, 2019 Updated 3/29/2019
Carlyle Global Partners, a long-term investment unit of the Carlyle Group private equity firm, will take a minority investor stake in the asphalt roofing and building materials business of Tamko Building Products Inc. in a transaction expected to close in the second quarter.
However, Tamko’s composite decking business, which is based in Lamar, will continue to be owned and operated as a stand-alone business exclusively by the Humphreys family.
Tamko is the ninth investment for CGP, which manages $216 billion of assets and pursues deals with the potential for attractive returns through partnerships with family businesses and management teams.
Joplin, Mo.-based Tamko is family owned and celebrating an anniversary milestone.
“This is the beginning of a new chapter in Tamko’s 75-year history,” Tamko’s Chairman Ethelmae Humphreys said in a news release. “Our business and footprint has expanded at a dramatic pace, growing from just one roofing plant in Joplin, Mo., into one of the nation’s largest asphalt roofing shingle manufacturers.”
Tamko also makes steel shingles, railing products, water-proofing products, cements and coatings.
To obtain reprints or copyright permissions:
E-mail: [email protected]
Visit: Reprints
This post appeared first on Plastics News.