Malarkey Roofing Products Explores Possible $1.5 Billion Sale
(Bloomberg) -- The family owners of Malarkey Roofing Products are exploring strategic options including a sale that could value the company at as much as $1.5 billion, according to people with knowledge of the matter.
The company, which is led by President George Malarkey, is working with an adviser to hold an auction process, said the people, who asked not to be identified because they weren’t authorized to speak publicly. Portland Oregon-based Malarkey is generating about $100 million in earnings before interest, taxes, depreciation and amortization and could attract interest from peers and private equity firms, the people said.
A representative for Malarkey didn’t respond to requests for comment.
A sale of the company would come amid a wave of building products deals as investors look to capitalize on the home building and renovation boom that started with the coronavirus pandemic. Deals completed this month have included Kingspan Insulation buying Minnesota Diversified Products and Duravant acquiring Hart & Cooley, according to data compiled by Bloomberg.
Malarkey, which has plants in Oregon, California and Oklahoma and can trace its origins back to 1956, promotes its products as environmentally friendly. Its shingles are made from rubberized asphalt recycled from tires and bags that would have been sent to landfills, according to its website. The company also adds smog reducing granules to the shingles to reduce air pollution.
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