PHILADELPHIA, September 11, 2014 – Graham Partners, a private investment firm focused on investing in advanced manufacturing businesses, is pleased to announce that its portfolio company, Henry Company (“Henry”), has acquired West Development Group (“WDG”). WDG is a designer and manufacturer of sustainable roofing products used in commercial and residential applications, while Henry is a leading manufacturer of roofing and building envelope products.
Graham Partners acquired Henry in 2012, premised on the thesis that there would be increasing demand for sustainable building products which enhance energy efficiency. WDG’s high-end silicone coating product line provides high reflectivity, reducing overall energy consumption. Additionally, WDG’s roof coating and spray foam technologies complement Henry’s existing product portfolio and deliver substantial cost saving synergies. This acquisition will provide Henry with in-house silicone engineering capabilities, allowing Henry to compete more effectively and execute on its plan to capitalize on energy efficiency driven demand in the markets it serves.
Rob Newbold, Managing Principal at Graham Partners, states, “Henry’s strong management team is looking forward to fully integrating WDG and achieving extensive synergies. The acquisition of WDG creates an opportunity for Henry to move up market with advanced technologies, and provides Henry with strong top-line growth potential.”
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