NCI Building Systems Inc. (NYSE: NCS) is buying Centria for $245 million in the latest building products deal.
Centria, headquartered in Pittsburgh, Pennsylvania, makes architectural insulated metal panel wall and roof systems. The company also provides coil coating services for the nonresidential construction industry. The company has four production facilities in the U.S., plus 36 sales locations and a manufacturing facility in China.
The target had 12-month trailing revenue of $230 million as of September 2014. To fund the deal, NCI plans to issue $250 million in new senior unsecured notes.
The Houston-based buyer manufactures metal products for the nonresidential building industry.
The deal follows a score of others in and around the building products sector. In September, private equity firm Symphony Technology Group bought McGraw Hill Construction, a construction data and analytics company, for $320 million. Also in September, private equity firm Audax Group bought Chase Industries Inc., which manufactures doors. Before that, Spectrum Brands Holdings Inc. (NYSE: SPB) picked up Tell Manufacturing Inc., which makes doors and hardware. For more on activity in the sector, see Growth in Construction Sector Spurs M&A in Building Products.