Sources: NCI Building Systems Inc., Cary, N.C.; CP staff
The largest manufacturer of pre-engineered metal building systems and components is extending its cladding portfolio deeper into precast concrete stone veneer. Through its Ply Gem Stone business, NCI Building Systems has closed on Environmental Materials LLC, the Denver-based entity behind the Environmental StoneWorks brand, in a transaction valued at $187 million.
Environmental StoneWorks President Chuck Stein will retain his position and have responsibility over familiar operations—five production facilities and 21 installation centers—plus those of the Ply Gem Stone business. The latter brought Houston-based NCI Building Systems into precast concrete veneer and was part of last year’s $5.5 billion merger with Ply Gem Parent LLC in Cary, N.C.
“The acquisition of Environmental StoneWorks, when combined with our existing stone businesses, positions our organization as a market leader in stone veneer. As one of the fastest growing categories of exterior cladding materials, it allows us to better serve our residential customers, while creating considerable cross selling opportunities with our commercial customers,” says NCI Chairman James Metcalf. “The transaction directly supports NCI’s industrial logic and value proposition adding to our already strong residential, repair & remodel and commercial platform.
“Along with adding a profitable, growing business, we look forward to welcoming Chuck Stein as president of our combined stone businesses. [He] has served as president and CEO of Environmental Stoneworks for over 10 years and brings a wealth of knowledge and experience in product innovation, business expansion and transformative solutions that will be invaluable to our customers,” Metcalf affirms.
With a payroll of about 650, Environmental StoneWorks is the only national producer and installer of precast veneer for the residential and commercial markets, and offers a broad range of units and styles suitable for local preferences and turnkey solutions. It reported revenues of $160 million in fiscal 2017.
Boral, Headwaters merger spells commanding fly ash, veneer stone source
Eldorado-backed study reveals labor savings potential in veneer substrates