[UPDATED: An earlier version of this article incorrectly stated that Masonite was part of the transaction.] WICHITA, Kan. – International industrial giant Koch Industries, owner of Georgia-Pacific, has acquired Guardian Industries Corp, a manufacturer of building products. The deal is an all-cash transaction for the remaining 55.5 percent outstanding shares of Guardian Industries’ common stock not already owned by affiliates of Koch.
“Guardian Industries and its employees have proudly served customers for 84 years, and we have benefited a great deal from Koch’s robust guidance and infrastructure since its initial investment in 2012,” said Ron Vaupel, president and CEO of Guardian. “Our companies align in many areas including culture, global footprint and supply chain. We are excited to continue working together to create value for our customers and society.”
“Working with Guardian’s dedicated employees has proven to be a rewarding experience,” said Dave Robertson, president and COO of Koch. “We look forward to combining the strengths and capabilities of Guardian and Koch to better meet the needs of our customers.”
“Guardian is a world-class organization and a leader in providing innovative products,” said Charles Koch, chairman and CEO of Koch. “This acquisition fits well with our culture and core capabilities. We look forward to Guardian fully joining the Koch Industries family.”
The transaction is subject to customary closing conditions including antitrust approval, and is expected to close in the first quarter of 2017.
In addition to glass and automotive products, Guardian and its subsidiaries manufacture building products for the construction industry, including Masonite doors, Echelon cabinetry, and Makita power tools. Based in Auburn Hills, Michigan, the company employs 17,000 people over 25 countries.
Based in Wichita, Kansas, Koch Industries is one of the largest private companies in America with estimated annual revenues as high as $100 billion, according to Forbes. It owns a diverse group of companies involved in refining, chemicals, biofuels and ingredients; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronic components; commodity trading; minerals; energy; ranching; glass; and investments. Since 2003, Koch has invested about $80 billion in acquisitions and other capital expenditures. With a presence in more than 60 countries, Koch companies employ more than 100,000 people worldwide, with about 60,000 of those in the U.S.