Specialized wood ceiling from Architectural Components Group at Philadelphia Eagles Touchdown Club, Philadelphia, PA
LANCASTER, PA—Armstrong World Industries has agreed to acquire the business and assets of Marshfield, MO-based Architectural Components Group, which specializes in custom wood ceilings and walls. ACG has annual revenues of $35 million, Armstrong says.
ACGI designs and manufactures custom architectural specialty wood ceiling and wall solutions. ACGI capabilities and product solutions will complement and enhance AWI's existing wood ceiling and wall solutions, and further strengthen AWI's market-leading position in the category that is growing double-digits for AWI.
“This acquisition will mark our largest to date and a continuation of our inorganic growth initiatives to increase our participation in the high-value Architectural Specialties segment,” says Armstrong CEO Vic Grizzle. “With ACGI, we will dramatically expand our Architectural Specialties portfolio and capabilities to meet the growing demand for wood ceilings and walls. We look forward to completing the transaction and welcoming the ACGI team to AWI in the near future.”
The transaction is expected to close in the first quarter of 2019 and remains subject to customary closing conditions. Following closing, AWI expects to serve existing and future customers out of the acquired Missouri facility and through its current distribution channels. AWI will fund the acquisition with available cash. Financial terms of the transaction were not disclosed.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
