GAF Announces the Acquisition of Icopal

GAF, North America’s largest roofing manufacturer, announced today that it has entered into a definitive agreement to acquire Icopal (“the Company”), a leading pan-European manufacturer of roofing and other waterproofing products, from Investcorp Ltd for approximately €1 billion. The transaction, which builds upon GAF’s market-leading products by adding a portfolio of high-quality brands in Europe and the United States, will create the world’s pre-eminent roofing company. The acquisition is expected to close by the second quarter of 2016.