Ares Management and Ontario Teachers’ Pension Plan Announce Closing of CPG International Inc.
LOS ANGELES & TORONTO – Ares Management LLC and Ontario Teachers' Pension Plan announced today the completion of the acquisition of CPG International Inc. The transaction, which closed approximately six weeks after the Ares Private Equity Group and Teachers' agreed to acquire CPG, was first announced on August 19, 2013. Immediately after the transaction closed, CPG International Inc. was converted into a limited liability company and will now be known as CPG International LLC.
CPG is a manufacturer of highly engineered low-maintenance building materials designed to replace wood, metal and other traditional materials in a variety of building applications. CPG sells its products into the residential, commercial, and industrial markets under the leading brand names of AZEK, TimberTech, VYCOM, and Scranton Products.
About CPG International LLC
Headquartered in Scranton, Pennsylvania, CPG International LLC is a manufacturer of market-leading brands of highly engineered, premium, low-maintenance building products for residential commercial and industrial markets designed to replace wood, metal and other traditional materials in a variety of construction applications. The Company's products are marketed under several brands including AZEK® Trim and Moulding, AZEK® Deck, AZEK® Rail, TimberTech®, TuffTecTM, Duralife Lockers®, SeaboardTM, Hiny Hider® and Celtec®, as well as many other brands. For additional information, visit www.cpgint.com.
About Ares Management LLC
Ares Management LLC is a global alternative asset manager and SEC registered investment adviser with approximately $66 billion of committed capital under management and approximately 700 employees as of July 1, 2013. Ares is headquartered in Los Angeles with professionals located across the United States, Europe, Australia and Asia and invests across the capital structure – from senior debt to common equity. Ares' investment activities are managed by dedicated teams in its Capital Markets, Private Debt, Private Equity and Real Estate investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends, access to significant deal flow and the ability to assess relative value. For additional information, visit www.aresmgmt.com.
About Ontario Teachers' Pension Plan
With $129.5 billion in net assets as of December 31, 2012, the Ontario Teachers' Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund's assets and administers the pensions of 303,000 active and retired teachers in Ontario. For more information, including our 2012 and previous annual reports, visit www.otpp.com. Follow us on Twitter: @OtppInfo.
Contacts:
Ares Management:
Mendel Communications LLC
Bill Mendel, 212-397-1030
bill@mendelcommunications.com
CPG International LLC
Maureen Murray, 973-993-1570
precise2@optonline.net