AZEK Company To Sell Vycom Business To Plaskolite

(RTTNews) - AZEK Company Inc. (AZEK) Wednesday said it has agreed to sell its Vycom business, a division of its Commercial segment, to Ohio-based Plaskolite, LLC.

The sale of Vycom is expected to close on November 1, 2023.

John Szlag, Co-President at Plaskolite, said, "We are excited to welcome Vycom into the Plaskolite family. This acquisition allows us to better serve our customers by offering a broader range of thermoplastic solutions. Vycom's expertise in engineered products along with their commitments to both manufacturing safety and sustainability perfectly complements Plaskolite's core values."

Jesse Singh, AZEK's CEO, said, "This transaction helps simplify our portfolio and further focuses AZEK on our strategic higher growth and margin opportunities in the repair and remodel and outdoor living markets associated with our Residential segment, including our Deck, Rail and Accessories and Exteriors businesses. AZEK's balance sheet strength, low leverage and strong cash flow generation provides the financial flexibility to pursue this strategic disposition."