Headwaters to acquire Kleer Lumber
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South Jordan, Utah-based Headwaters Inc., a division of Tapco, agreed to acquire the assets of cellular PVC trim and moulding product manufacturer Kleer Lumber.
The purchase price is about $43 million for Kleer, whose products are made at its Westfield, Mass., manufacturing and research and development facility.
Headwaters said it believes the demand for cellular PVC building products is growing due to the ability to cut, mill, shape and install in the same manner as wood products, but with the added benefit of cellular PVC requiring significantly less maintenance than wood. Headwaters intends to introduce Kleer Lumber's product offerings into its national distribution network, expanding its point-of-sale locations.
According to Headwaters, the acquisition of Kleer Lumber will add a full range of cellular PVC products to Headwaters' Light Building Products offerings, including trim boards, millwork, sheet stock, paneling and moulding, as well as the company's recently introduced decking and railing products.