On July 29, 2022 Saint-Gobain completed the acquisition announced on May 31, 2022 of Kaycan, a manufacturer and distributor of exterior building materials in Canada and in the United States.
With this acquisition, Saint-Gobain reinforces its worldwide leadership in light and sustainable construction by becoming the top siding player in Canada and enlarging its vinyl offer across the United States with complementary solutions in aluminum and engineered wood.
As part of this acquisition and in line with our previous announcement, the divestment of Kaycan’s small US distribution business is progressing well and its closing is expected in the third quarter of 2022. The EBITDA multiple of approximately 8x post synergies and divestment of US distribution is confirmed.
Kaycan joins the local North American construction business, within the Americas Region.
The acquisition of Kaycan follows several other North American growth investments announced by Saint-Gobain in recent months:
- In May, Saint-Gobain announced a $100 Million expansion of its CertainTeed roofing facility in Peachtree City, Georgia, more than doubling the site’s production capacity while also reducing its carbon dioxide emissions.
- Also in May, the company announced a $28 Million investment in its ADFORS technical textile products facility in Dublin, Georgia, creating 400 jobs over the next two years.
- In April, Saint-Gobain announced it was doubling the manufacturing footprint of its CertainTeed Architectural manufacturing site in Lakewood, Ohio by moving to a new, state-of-the-art location in nearby Strongsville, Ohio.
- Also in April, Saint-Gobain announced a $118 Million expansion of its CertainTeed roofing plant in Oxford, North Carolina, adding an additional 225,000 square feet of manufacturing space to what was already one of the largest roofing shingle manufacturing sites in North America.
- In February, the company invested $32 Million in its CertainTeed insulation manufacturing site in Chowchilla, California, increasing the location’s production capacity by 13% while also reducing its carbon footprint.
- In December, Saint-Gobain announced its intent to purchase construction chemicals manufacturer GCP Applied Technologies for $2.3 Billion.