Fortress Building Products is pleased to announce that it has completed the sale of the assets of its composite decking subsidiary (which includes products such as Fortress Decking, Cladding and HULK Fasteners), as well as the associated exclusive North American distribution rights, to Eva-Last Americas.
“This transaction enables Fortress to place added focus on our core metals products and gives Eva-Last direct access to bring their core composite and fastener products to the North American market,” states Mike Walsh, president and chief operating officer at Fortress Building Products. “We are excited to take this next step in our strategic plans. Fortress has seen strong growth in its core metals products, including our Railing, Steel Deck Framing, Fencing, Pergolas and Lighting, and this divestiture accelerates our growth.”
Over the past year, Fortress and Eva-Last have actively explored ways to evolve and expand the composite decking business. “I’m extremely proud of what our team has built and am thrilled to see Eva-Last take advantage of this platform to spur growth, while at the same time accelerating our tremendous momentum in metals products, like our Evolution Steel Deck Framing,” says Jeff Schulz, senior vice president Sales and Marketing at Fortress Building Products. “This sale will benefit Fortress employees, Eva-Last employees, our mutual partners, and the industry as a whole.”
“Our partnership with Fortress over the past seven years has seen meaningful introductions of our best-in-class APEX PVC and Infinity I-Series Composites,” adds Marc Minne, CEO of Eva-Last. “Our recent IPO [SZSE:301429] brought significant funding that will allow us to invest heavily in the growth of the Americas, ensuring our position as a global leader of innovative building products is fully realized.”
This sale will allow Fortress to pursue additional growth in its core metals business strengths, which includes steel and aluminum Railing, Evolution Steel Deck Framing, Fencing, Pergolas and Lighting. As Steel Framing and Pergolas continue their tremendous upward momentum with professionals and consumers, Fortress will continue to drive adoption and usage of these industry-leading products. This transaction will further efforts by Fortress in team member additions, marketing, operations and R&D to continue advancing market share of their wood-alternative, outdoor living, metals products portfolio in residential, commercial, industrial and high-security sectors.?
