An Arktura Custom SoftSound Acoustical Floating Wall in Philadelphia.
Armstrong World Industries, Inc. (AWI) has entered into an agreement to acquire Arktura, LLC,
Based in Los Angeles, Arktura is a designer and fabricator of ceilings, walls, partitions, and facades.
“The Arktura team is widely celebrated for bridging the gap between creative intent and manufacturing capabilities to bring about exceptional ceiling and wall designs for any kind of space,” said AWI CEO Vic Grizzle. “Consistent with our strategy to drive profitable growth, Arktura will help us reach a whole new level of design excellence, within both our architectural specialties and mineral fiber segments. We are excited about the possibilities ahead for our teams to collaborate and create innovative solutions that make a positive difference where we live, work, learn, heal and play.”
In connection with the transaction and subject to closing, AWI and Arktura also plan to form and launch Arktura Ventures LLC, an incubator for exploring and accelerating new product, technology, and materials solutions in architecture, design, engineering and construction, above and beyond their existing core businesses.
Arktura Ventures is expected to be co-managed and co-led by representatives from both organizations, with AWI maintaining majority ownership and control. Arktura Ventures would complement AWI’s strategic growth initiatives, including its digitalization, business development and sustainability platforms.