GAF Finalizes Icopal Acquisition; Becomes World’s Largest Roofing Manufacturer
PARSIPPANY, N.J. - GAF, already North America’s largest roofing manufacturer, just became the world’s largest manufacturer in roofing upon completing its acquisition of Icopal.
The deal, announced in January, is reportedly worth $1 billion.
Icopal is a leading pan-European manufacturer of roofing and other waterproofing products, and the acquisition gives GAF the preeminent platform for growth in roofing on both sides of the Atlantic, officials said.
“GAF and Icopal are an excellent cultural fit, given our shared focus on manufacturing excellence, strong customer service, and innovation,” said Bob Tafaro, president & CEO of GAF, in a news release. “Icopal and its leading roofing and waterproofing brands have a bright future within the GAF family, and we look forward to working together to create world-class value for all of our customers.”
Jim Schnepper, executive vice president of sales for GAF, will become president and chief executive officer of Icopal, GAF’s European operating division. Tom Anderson, senior vice president of planning & supply chain management for GAF, will become chief operating officer. GAF and Icopal will have a combined 6,500 employees and nearly $4 billion in sales across more than 80 countries.