Firestone Building Products has agreed to acquire Gaco Western, a leader in silicone roofing systems and provider of waterproofing and spray foam insulation solutions for both commercial and residential applications.
The acquisition strengthens Firestone’s industry position in commercial roofing and expands its presence in residential and commercial building products, according to the company, which said the deal reinforces its commitment to be a leader in building envelope solutions.
Rising Demand for Liquid Coatings
Firestone Building Products is part of Bridgestone Americas, the largest subsidiary of Bridgestone Corp. — the world’s largest tire and rubber company.
“This acquisition supports our strategic plan to penetrate high-growth adjacent product segments,” said Tim Dunn, president of Firestone Building Products. “Adding Gaco’s product portfolio will expand our offering, broaden our customer base, and reaffirm our commitment to being a total solutions provider.”
“We are now also in a position to better capitalize on rapidly growing demand for liquid coating products and are excited about the opportunity to unearth the long-term value that exists in the combination of the two businesses,” he added.
Financial details of the transaction were not disclosed. The deal is expected to be completed before the end of the 2017 first quarter, subject to regulatory approvals and other customary closing conditions.
Gaco’s Line of Solutions
Founded in 1955, Gaco is privately owned and headquartered in Seattle, Washington. With brands including GacoFlex, GacoRoofFoam, and GacoWallFoam, the company produces silicone polyurethanes, epoxies, and acrylic liquid coatings for roofs; decking and waterproofing products that protect pedestrian surfaces, concrete, metal, and plywood; and open- and closed-cell foam products — which protect and insulate buildings.
All Gaco products are made at the company’s state-of-the-art manufacturing and research and development (R&D) facility in Waukesha, Wisconsin.
According to Gaco officials, the combination of the two companies will allow Firestone to provide customers with additional flexible and cost-effective products for their roofing needs. By delivering a repair product at a competitive price point, Gaco’s portfolio of silicone and acrylic liquid coatings offers an alternative for situations when a full roof tear-off and rebuild are not available.
For contractors, these products allow for easier and less labor-intensive installations — thus significantly reducing costs, according to Gaco. The deal also enables Firestone to offer its customers access to Gaco’s waterproofing solutions.
“With over 60 years’ experience providing high quality products to our customers, we have successfully built a leading position in the silicone roofing and waterproofing segments,” said Peter Davis, chairman and CEO at Gaco.
“Firestone is the clear leader within the roofing industry and has a strong vision for the broader building envelope — combining best-in-class service, product, and innovation, with a substantial distribution platform,” Davis added. “We are excited at the prospects of joining Firestone, as it allows us to continue to drive R&D, deliver innovative products to our customers, and offer additional career opportunities to our employees.”
For more information, contact: Gaco Western, (800) 331-0196, www.gaco.com