Fortress Investment Group announced that funds managed by its affiliates have acquired Gyptech, a global leader in the design, construction, and commissioning of gypsum wallboard and asphalt-shingle manufacturing equipment and services.
The deal will support Gyptech’s global growth, emphasizing scaling innovative technologies and expanding comprehensive client services. The funds managed by Fortress affiliates acquired a majority of Gyptech equity, with the company’s management team holding a minority stake.
Gyptech designs, engineers, and fabricates new and replacement production lines for gypsum wallboard and asphalt-shingle facilities. And with offices in North America and Europe, Gyptech has provided advanced equipment and engineered systems to the global gypsum and roofing industries for the past three decades.
From raw material processing to finished products, Gyptech offers comprehensive support for every stage of gypsum wallboard production and is a leading innovator in asphalt-shingle manufacturing technology. The company continues to play a significant role in promoting innovation in the building construction sector.
The deal will fuel the company’s plans to enhance client support, optimize equipment performance, and expand its aftermarket offerings, including spare parts and comprehensive technical services. And Gyptech is developing and implementing revolutionary energy- and carbon-reduction technologies, such as heat-pump systems, with the goal of reducing natural gas consumption and lowering carbon emissions from operations.
Moelis & Company is acting as exclusive financial advisor to Fortress. And Evercore is acting as placement agent to Fortress on the financing.
KEY QUOTES:
“This acquisition represents a significant milestone for Gyptech. With Fortress’ backing, we will continue to grow our aftermarket services and bring to market energy-efficient technologies that are crucial for the future of sustainable construction. We are excited to work with Fortress to continue our legacy of innovation and service excellence.”
– Jeremy McKellar, CEO of Gyptech
“Gyptech is a great company with a market-leading position supplying equipment that’s foundational to the building construction industry across the globe. With strong demand tailwinds and a great leadership team, we’re excited about the company’s growth opportunities. We look forward to working with Jeremy and team to capitalize on those opportunities.”
– Ben Green, Director at Fortress
