NRCA member TAMKO Building Products Inc., Joplin, Mo., one of the U.S.' largest independent manufacturers of residential roofing products, has announced Carlyle Global Partners will become a long-term strategic minority investor in its asphalt roofing and building materials business. CGP is the long-duration investment fund of The Carlyle Group, a global investment firm with $216 billion of assets under management. The transaction is expected to close in the second quarter of 2019; terms have not been disclosed.
"This is the beginning of a new chapter in TAMKO's 75-year history," says TAMKO Building Products Chairman of the Board Ethelmae Humphreys. "Our business and footprint has expanded at a dramatic pace, growing from just one roofing plant in Joplin, Mo., into one of the nation's largest asphalt roofing shingle manufacturers. Our partnership with CGP will position TAMKO now and over the long-term for even faster growth and greater success."
"TAMKO's success is firmly rooted in the core values that have always defined us as a family-run business: hard work, honesty and integrity, and a commitment to hire and develop outstanding people," says David Humphreys, president and CEO of TAMKO Building Products. "CGP is a great long-term partner because they recognize that these guiding principles—combined with our cost leadership strategy, focus on vertical integration, commitment to quality, customer focus, and continuous improvement—have underpinned TAMKO's success. Together with CGP, TAMKO will continue to invest in these areas to grow the market-leading positions we hold today."
Eliot Merrill, co-head of CGP, and Vipul Amin, managing director for The Carlyle Group, will join TAMKO Building Products' board of directors.
TAMKO's composite decking business will continue to be owned and operated as a stand-alone business exclusively by the Humphreys family.
