Acquisition of CornellCookson, Inc.
Baird served as financial advisor to Griffon Corporation on this transaction
AboutGriffon Corporation (“Griffon”) (NYSE:GFF) recently announced that its subsidiary, Clopay Building Products Company, Inc. (“CBP”), has completed the acquisition of CornellCookson, Inc. (“CornellCookson”) for $180 million, or approximately $170 million net of tax benefits resulting from the transaction.
Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital. Griffon is headquartered in New York, New York.
CBP is a leading manufacturer and marketer of residential garage doors, and among the largest manufacturers of commercial sectional doors, in the United States. CBP distributes its products through a wide range of distribution channels and operates a national network of 51 distribution centers. Additionally, products are sold to approximately 2,000 independent professional installing dealers and to major home center retail chains. CBP is headquartered in Mason, Ohio.
CornellCookson, founded in 1828, is a leading United States manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional and retail use with facilities in Mountain Top, Pennsylvania and Goodyear, Arizona. CornellCookson produces custom closure solutions found in stadiums, hospitals, hotels and museums, along with a variety of other facilities where reliability, security and life safety is vital. CornellCookson’s products are sold through a network of more than 700 dealer partners worldwide. CornellCookson is headquartered in Mountain Top, Pennsylvania.
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- June 2018
- Griffon Corporation
- Target Location
- North America
- Acquiror Location
- North America