CHICAGO - USG Corporation (NYSE:USG) completed the acquisition of Ceilings Plus, a Los Angeles-based manufacturer of architectural wood and metal ceilings. USG paid $52 million in cash, on a cash-free and debt-free basis.
Ceilings Plus employs more than 150 people at two facilities in California and Georgia. Ceilings Plus is expected to generate 2017 sales in excess of $45 million. Founder and president Nancy Mercolino will lead the USG Ceilings Plus business and be based in Los Angeles.
The Arboreal Wood Panel system from Ceiligs Plus was used on a signature project by architects Perkins + Will at Rush University Hospital in Chicago. Perkins + Will say research shows that elements of nature in a building promote wellbeing, a concept known as biophilia. So the architects flooded the lobby with daylight and inserted an atrium filled with plants. They also used Arboreal wood panels on the ceilings and walls because the natural material induces positive feelings in patients, staff, and visitors.
USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com.
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