Mazzone advised INDEVCO North America on its acquisition of Perma R Products, Inc.
Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as the exclusive financial advisor to INDEVCO North America (“INDEVCO”) in its acquisition of Perma R Products Inc. (“Perma R” or “the Company”), a leading U.S. building envelope materials manufacturer.
“The acquisition of Perma R,” says Bahjat Frem, Executive Chairman of INDEVCO North America, “is another steppingstone in our commitment to grow into a leading industrial company in the US. Mazzone has been an instrumental partner in molding and executing our acquisition strategy for our business units in North America. Their M&A expertise was critical in guiding our team through each stage of this transaction process and ensuring this exciting partnership resulted in a successful transaction. We are eager to continue investing in organic growth and acquisition initiatives in support of INDEVCO’s long-term goals in the U.S.”
With over 40 years in business, Perma R Products produces EPS and GPS non-structural rigid foam insulation for interior, exterior, and subterranean applications, as well as building wrap and roof underlayment. From their locations in Mississippi, Georgia, and Tennessee, the company supplies home improvement retail, building material distributors, lumber dealers, national builders, and contractors across the country.
Jonathan White, Managing Director at Mazzone, added “this acquisition underlines INDEVCO’s growing commitment to the U.S. market. The combined capabilities and expertise of INDEVCO and Perma R will allow them to offer one of the most comprehensive, energy-efficient building envelope portfolios in North America. Perma R has built a great business and we are eager to see what lies ahead for both teams and their customers.”
The Perma “R”® brand will be sold parallel to INDEVCO’s Barricade® brand of building envelope products, produced in Doswell, Virginia. Both brands will serve different channels, end markets, and geographical territories. Tim LeClair will continue to lead the company’s operations as Vice President of Perma R. “It’s a win-win for our customers across the country,” LeClair states. “The Perma R – INDEVCO synergies are remarkable and joining as strategic partners will make it easy for customers to do business with us.”
Ned Bassil, CEO of INDEVCO North America, explains, “We’re very excited about joining forces with a well-respected company with strong values and a high level of customer service. The acquisition of Perma R enhances our building envelope product portfolio into a comprehensive offering with a deeper and broader selection for our existing customer base, while giving us access to new customer segments.”
Read the INDEVCO North America Press Release here.
About Perma R Products, Inc.
Perma R Products, a family-owned company launched in 1979, produces rigid EPS and GPS foam insulation for above grade and below grade applications, building wrap, and roof underlayment. The company operates manufacturing facilities in Grenada, MS; Adel, GA; and Johnson City, TN.
www.PermaRProducts.com
About INDEVCO North America
INDEVCO has operated for over 40 years in the US market, as Interstate Resources, Inc. through 2017 and presently as INDEVCO North America. A protective materials manufacturing group, INDEVCO North America innovates Building Products and Packaging Solutions in Doswell, VA; Orangeburg, SC; and Longview, TX. In addition, the group manages recycling operations for reprocessed and biomass materials that create a circular economy. Member manufacturing plants serve a growing list of industries, including building and construction, beverage, chemical and petrochemical, food, industrial salt and minerals, lawn and garden, packaging converting, pet food, and transport.
www.INDEVCONorthAmerica.com