The Azek Company (formerly known as CPG International LLC) has signed an agreement with Highlander Partners, L.P, a Dallas-based private investment firm, to purchase Versatex Holdings, LLC, according to a report in Plastics News. Founded in 2003 and purchased by Highlander Partners in 2014, Versatex is a leading manufacturer of cellular PVC exterior trim including cornerboards, beadboards, skirtboards, wraps, beaded profiles, and soffit systems. Versatex's estimated sales volume is $30 million a year, while Azek's estimated sales are $360 million a year, according to Plastics News' rankings. Company officials announced that an agreement had been signed on May 30. No terms were disclosed.
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