St Gobain to buy Canadian building group Bailey for $650m
PENNSYLVANIA, 25 days ago
Saint-Gobain, a global leader in light and sustainable construction, has announced plans to acquire Bailey Group of Companies (Bailey), a leading Canadian manufacturer of commercial metal framing and building systems, for C$880 million ($650 million), through its building materials subsidiary CertainTeed Canada.
The complementary addition of Bailey’s existing line of high-quality metal framing products in Canada will broaden Saint-Gobain’s global offering in the category, and further enhance the company’s position as a worldwide leader in light and sustainable construction.
As part of the pending acquisition, Saint-Gobain will also complete the purchase of the remaining equity and assets of its decade-long ceiling grid manufacturing joint venture with Bailey, The Grid Company.
In addition, when approved, the acquisition will include all divisions of The Bailey Group - Bailey Metal Products, Bailey Metal Processing, and Agway Metals.
Bailey’s existing line of high-quality metal framing products in Canada will broaden Saint-Gobain’s global offering in the category, and further enhance the company’s position as a worldwide leader in light and sustainable construction.
With approximately 690 employees working across twelve manufacturing sites throughout Canada, the acquisition of Bailey will reinforce Saint-Gobain’s commitment to growth in the country, adding more than C$500 million in revenues in Canada, where the CertainTeed brand is an established provider of building materials.
Along with the recent acquisitions of Kaycan and GCP in 2022, and Building Products of Canada in 2023, this acquisition will strengthen the company’s building materials portfolio and further Saint-Gobain Canada’s vision to offer a comprehensive portfolio of building systems and solutions, both internal and external, to its customers.
On the strategic buy, Mark Rayfield, President and CEO of Saint-Gobain North America, said: "As a strategic partner in The Grid Company joint venture for over a decade, we have first-hand knowledge of the Bailey team’s expertise in producing high quality light construction solutions."
"Their employee-centric culture and unwavering commitment to customers is what makes them an excellent partner for Saint-Gobain, and I look forward to the Bailey team’s continued contributions to fulfilling our global purpose – ‘Making the World a Better Home'," stated Rayfield.
"As Saint-Gobain’s growth journey in Canada continues, I can think of no better partner than The Bailey Group of Companies,” said Julie Bonamy, CEO (Canada).
"With their long-standing expertise in metal framing and building solutions, we will take a significant step forward in our vision to provide a comprehensive portfolio of building materials to our customers," he added.
Bailey Group CEO Angelo Sarracini said: "As leaders in metal framing for nearly 75 years, we look forward to continuing our same quality service and support to Canadian customers alongside our long-time partner Saint-Gobain."
"Working together, we will enhance the experience for our customers throughout Canada, who will benefit from our combined expertise and portfolio of complete building systems and solutions. We are excited to continue the Bailey story as we start this next chapter," he added.
Stuart Hunt, President of Bailey Metal Processing, said: "The Bailey Family’s long-standing commitment to our associates and customers is at the heart of everything we do. We pride ourselves in the culture that has been built over the past 74 years."
"Saint-Gobain shares many of the core values that the Family holds in high regard. I am looking forward to building upon the 74 years of success with the group," he added.-TradeArabia News Service
