PE Firm Buys Beacon Unit In $850M Deal Driven By 3 Firms

Law360 (December 21, 2020, 4:25 PM EST) -- Beacon Roofing Supply Inc. has agreed to sell its interior products business to private equity firm American Securities for roughly $850 million, in a deal put together with help from Sidley Austin, Potter Anderson and Weil Gotshal, the companies said Monday.

The Virginia-based distributor generated net sales of $1.03 billion during fiscal 2020, while posting a net loss of $11 million and adjusted earnings before interest, taxes, depreciation and amortization of $73 million. Beacon plans to use roughly $750 million in after-tax proceeds from the divestiture to pay down debt and fortify its balance sheet.

For New York-based American Securities LLC,...

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