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Henry Company Acquired by Private-Equity Firm, Partners

Thursday, June 28, 2012

More items for Building Envelope

Henry Company, a major manufacturer of roofing and building-envelope products and systems, has been acquired by an investor group led by the private-equity firm Graham Partners. Terms were not disclosed.

Spray application of Henry Company’s LiquidFoil™ Attic Barrier.

Co-investors include the private-equity firm OceanBridge Partners, members of current management, and the company’s former owners.

The investor group acquired Henry from the private-equity firm AEA Investors and other minority shareholders, which acquired the company in 2005.

Henry Company, based in El Segundo, Calif., is a maker of roof coatings and cements, air and vapor barriers, underlayments, waterproofing products, spray foam, green roofing systems, and other building and do-it-yourself products. The company also is a supplier of wax and asphalt emulsions for a variety of OEM applications.

The company’s brand portfolio includes Henry® (roof cements and coatings), Bakor® (building materials), Blueskin® (air and vapor barriers), Aqualite® (wax emulsions), Black Knight® (roof coatings and driveway sealer) and Permax® (spray foam).

Brian Strauss will remain president and CEO of the company, and the existing senior management team will continue in place following the transaction.

“Henry is a proven leader in innovative building-envelope solutions,” Strauss said. “Our team’s highly developed understanding of the market has enabled us to develop new products to better serve customers’ needs. We are enthusiastic about the partnership with Graham and look forward to working together.”

“Under very capable leadership, Henry delivered solid performance over the past several years in spite of the difficult market environment,” said Rob Newbold, managing principal at Graham Partners.

“We look forward to working actively with management to enhance Henry’s leadership in building-envelope systems through the development of innovative, high-performance building solutions and the ongoing commitment to sustainable, profitable growth aided by the resources we have to offer at Graham.”

Graham Partners is a private investment firm that says it focuses on investing in companies with proprietary technologies, advanced manufacturing know-how, innovative product-development capabilities, and exceptional growth potential. The firm says it targets businesses with revenues between $30 million and $500 million, and will invest in smaller companies “to the extent they complement one or more of its other holdings.”

Since the firm's founding in 1988, Graham Partners says it has completed more than 60 acquisitions, joint ventures, financings, and divestitures. Based in suburban Philadelphia, the firm is a member of The Graham Group, an alliance of independently owned and operated industrial and investment-management businesses.