Oldcastle APG acquire Advanced Environmental Recycling Technologies (“AERT”), a leader in composite decking. APG’s acquisition strategy is to fill in or extend its geographic footprint with existing product lines in addition to expanding its product suite into categories that are strategically adjacent to our existing portfolio. The acquisition of AERT is consistent with APG’s strategy, since the composite decking segment enables APG to enter an attractive and growing category that is highly complementary to APG’s existing product portfolio. APG leadership views the addition of composite decking products as highly synergistic, since many backyard projects involve consumers installing decks alongside patios and other areas that utilize hardscapes.
Composite decking is a very attractive outdoor living category that is characterized by high growth and profitability,” stated Tim Ortman, President of Oldcastle Architectural. “The addition of AERT further enhances our product portfolio and solidifies us as a leader in products serving the backyard space, and we are excited to welcome AERT into the CRH family of businesses.
We believe this is the right partnership to meet the evolving needs of our customers while furthering our ability to create best-in-class products,” said Tim Morrison, CEO and Chairman of the Board of AERT. “We are excited by the opportunities for AERT under Oldcastle Architectural’s ownership, and we look forward to being a part of this dynamic new chapter.
