Carlyle taps longer-term fund for Tamko Buildings Products stake buy

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Global buyout house Carlyle has agreed to take a minority stake in residential roofing specialist Tamko Building Products through its $3.6bn longer-term fund.

The business provides asphalt and metal roofing as well as decking and railing products, waterproofing, cements and coatings.

Tamko’s chairman of the board Ethelmae Humphreys said, “This is the beginning of a new chapter in Tamko’s 75-year history.

“Our business and footprint has expanded at a dramatic pace, growing from just one roofing plant in Joplin, MO, into one of the nation’s largest asphalt roofing shingle manufacturers.

“Our partnership with CGP will position TAMKO now and over the long-term for even faster growth and greater success.”

Carlyle Group Partners co-head Eliot Merrill added, “We are delighted to partner with Tamko, a market innovator with outstanding management and admirable core values. We believe our record of creating value successfully in businesses poised for long-term growth will enable Tamko to build on its remarkable achievements to date.”

The deal is expected to close in Q2 2019.

Last year Carlyle agreed to tap its long-duration private equity fund to buy Crestview Partners’ remaining shareholding in live event technical production business NEP.

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