Carlyle Group buys into TAMKO
Carlyle Global Partners (CGP) is set to become a long-term, strategic, minority investor in TAMKO’s asphalt roofing and building materials business.
CGP is a long-duration investment fund of the Carlyle Group, a global investment firm with $216 billion of assets.
Terms of the transaction, expected to close in the second quarter of TAMKO'S 75th anniversary year, were not been disclosed.
“This is the beginning of a new chapter in TAMKO’s 75-year history,” said TAMKO Chairman Ethelmae Humphreys. “Our business and footprint has expanded at a dramatic pace, growing from just one roofing plant in Joplin, Mo., into one of the nation’s largest asphalt roofing shingle manufacturers.”
Humphreys said the new partnership with CGP will position TAMKO for faster growth.
TAMKO’s composite decking business, which is based in Lamar, Mo. and manufactures the Envision line, will continue to be owned and operated as a stand-alone business exclusively by the Humphreys family, the company said.
Eliot Merrill, co-head of CGP, and Vipul Amin, Carlyle managing director, will join TAMKO’s board of directors.
“We have followed the growth and success of TAMKO for many years and look forward to supporting management as they take the business to the next level,” Amin said.
CGP is a long-duration investment fund of the Carlyle Group, a global investment firm with $216 billion of assets.
Terms of the transaction, expected to close in the second quarter of TAMKO'S 75th anniversary year, were not been disclosed.
“This is the beginning of a new chapter in TAMKO’s 75-year history,” said TAMKO Chairman Ethelmae Humphreys. “Our business and footprint has expanded at a dramatic pace, growing from just one roofing plant in Joplin, Mo., into one of the nation’s largest asphalt roofing shingle manufacturers.”
Humphreys said the new partnership with CGP will position TAMKO for faster growth.
TAMKO’s composite decking business, which is based in Lamar, Mo. and manufactures the Envision line, will continue to be owned and operated as a stand-alone business exclusively by the Humphreys family, the company said.
Eliot Merrill, co-head of CGP, and Vipul Amin, Carlyle managing director, will join TAMKO’s board of directors.
“We have followed the growth and success of TAMKO for many years and look forward to supporting management as they take the business to the next level,” Amin said.