Baird served as co-manager on this offering
AboutThe AZEK Company Inc. (“AZEK” or the “Company”) (NYSE: AZEK), a portfolio company of Ares Management Corporation (“Ares”) and Ontario Teachers’ Pension Plan Board (“OTPP”), recently completed a secondary offering of 28,750,000 Class A common shares, including the exercise in full of the underwriters' overallotment option, at a price of $33.25 per share, generating gross proceeds of approximately $955.9 million. The selling shareholders, including Ares and OTPP, will receive all of the net proceeds from the offering.
AZEK, founded in 1983, is an industry-leading designer and manufacturer of innovative, low-maintenance and sustainable products focused on the outdoor living market within both residential and commercial segments. AZEK operates seven manufacturing facilities and offers a broad portfolio of outdoor living products, including deck, rail, trim, furniture, accessories and other related products made from long-lasting and highly-engineered materials that are converting demand away from traditional materials. The Company is headquartered in Chicago, Illinois.
Ares was founded in 1997 and is a leading global alternative investment manager with over $165 billion of assets under management. Ares’ objective is to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares is headquartered in Los Angeles, California.
OTPP is an independent organization that administers the pensions of 329,000 active and retired teachers in Ontario. With over $207 billion of net assets, OTPP is the largest single-profession pension plan in Canada. OTPP is headquartered in Toronto, Ontario.
CONTACT US TO LEARN MORE
- September 2020
- The AZEK Company Inc.
- Target Location
- North America