CHICAGO — James Hardie Industries, a provider high-performance, low-maintenance building products and solutions, and The Azek Company Inc., a manufacturer of environmentally sustainable outdoor living products, announced entry into a definitive agreement under which James Hardie will acquire Azek for a combination of cash and James Hardie shares with a total transaction value of $8.75 billion, including Azek's net debt of approximately $386 million as of Dec. 31, 2024.

“This combination with Azek is an extraordinary opportunity to accelerate our growth strategy, deliver enhanced and differentiated solutions to our customers, and drive shareholder value,” said Aaron Erter, James Hardie CEO. “We are uniting two highly complementary companies with large material conversion opportunities and shared cultures centered around providing winning solutions to our customers and contractors. Together, we will be well-positioned to drive sustained above-market growth as a leader across attractive categories for the exterior of the home. The consumer journeys for siding and decking often overlap and both companies have excelled at demand creation for the homeowner and innovative products and solutions for the contractor.”

James Hardie and Azek will create a leading exterior and outdoor living building products growth platform with efficient scale and profitability supported by leading brands driving material conversion. By bringing together highly complementary products that span siding, exterior trim, decking, railing, and pergolas, the combined company will offer a comprehensive and innovative material replacement solution to homeowners, customers, and contractors.

“Over Azek's more than 40-year history, we have made strategic investments in innovation, capabilities and talent, driving sustained above-market growth with our industry-leading brands, including TimberTech and Azek Exteriors, and delivering an attractive margin profile with significant opportunities for expansion ahead. Building upon our proven track record of success, today marks an exciting start to the next phase of Azek's journey to further accelerate growth and material conversion,” said Azek CEO, Jesse Singh. “Together with James Hardie, we are delivering value to Azek shareholders and providing them meaningful participation in the long-term secular and financial growth opportunities created by the combined company. We are bringing together two customer-centric organizations with a shared commitment to innovation and building a better, more sustainable and resilient future, and we are excited about the opportunities ahead.”

To learn more, visit jameshardie.com.