Axiall Corporation to Sell Window and Door Profiles Business to OpenGate Capital
ATLANTA--(BUSINESS WIRE)--Feb. 25, 2016-- Axiall Corporation (NYSE: AXLL), a leading integrated chemicals and building products company, has signed a definitive agreement to sell its window and door profiles business, a component of Royal Building Products, to OpenGate Capital. The transaction is subject to regulatory approval and customary closing conditions. The sale is expected to close on March 31, 2016.
The Axiall compounding facility located in Concord, Ontario, is included in the window and door profiles transaction. It is a primary supplier to the window and door profiles business. As a North American market leader in innovation of vinyl profiles extrusion, the business provides quality custom profiles systems and platform products to meet the needs of window manufacturers across North America. The business works closely with customers to design products that meet the needs of their markets.
“As we refine our portfolio, we are pleased to have reached an agreement to sell our window and door profiles business to OpenGate Capital,” said Axiall President and CEO Tim Mann. “This is our fourth divestiture of non-core assets since April 2015, which allows us to better focus on our core chlorovinyls and derivatives. In particular, selling this business leaves Royal Building Products with the solid core product lines that generate better EBITDA margins, namely our siding, trim, moulding, fittings and pipe businesses.”
RBC Capital Markets acted as Axiall's financial advisor in the transaction.