Fortress Acquires Gyptech, A Global Leader in Gypsum and Roofing Manufacturing Equipment
NEW YORK & DALLAS--(BUSINESS WIRE)--Nov 27, 2024--
Fortress Investment Group (“Fortress”) today announced that funds managed by its affiliates have acquired Gyptech (“the company”) a global leader in the design, construction, and commissioning of gypsum wallboard and asphalt-shingle manufacturing equipment and services.
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The acquisition will provide strategic support for Gyptech’s global growth, with an emphasis on the scaling of innovative technologies and the expansion of comprehensive client services. Funds managed by Fortress affiliates have 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. With offices in North America and Europe, Gyptech has been delivering 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 provides 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 critical role in promoting innovation in the building construction industry.
The acquisition 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. Additionally, 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.
“This acquisition represents a significant milestone for Gyptech,” said Jeremy McKellar, CEO of 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.”
Ben Green, Director at Fortress, added: “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.”
Moelis & Company LLC is acting as exclusive financial advisor to Fortress. Evercore is acting as placement agent to Fortress on the financing.
About Gyptech
Gyptech, headquartered in Burlington, Ontario, is a global leader in the design, construction, and commissioning of equipment for both gypsum wallboard and asphalt shingle manufacturing. The company provides complete, turnkey production solutions and has a proven track record of delivering high-performance systems across North America and the rest of the world. With decades of experience and a global footprint, Gyptech has played a crucial role in shaping modern construction practices, continuously delivering solutions that meet the evolving needs of the industry. Gyptech’s core values of innovation, perseverance, caring, and humility drive its commitment to helping make shelter possible for communities worldwide.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $49 billion of assets under management as of September 30, 2024, on behalf of approximately 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. For more information, please visit www.fortress.com.
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Fortress Investment Group – Mark Lane,mlane@fortress.com, C: +1 917.842.4228
KEYWORD: TEXAS NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES BUSINESS OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE OTHER MANUFACTURING CONSTRUCTION & PROPERTY OTHER PROFESSIONAL SERVICES URBAN PLANNING BUILDING SYSTEMS FINANCE MANUFACTURING
SOURCE: Fortress Investment Group
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