Firestone Acquires Silicone Roofing Systems Provider

Firestone Building Products Company LLC has announced its acquisition of Gaco Western, a provider of silicone roofing systems, waterproofing systems and spray foam insulation. The deal, which includes all assets and operations held by Gaco, closed April 3, after a definitive agreement was signed and announced earlier this year.

The acquisition allows Firestone to introduce even more options to customers with Gaco’s silicone and acrylic liquid coatings. The enhanced portfolio creates alternative solutions when full roof tear-offs and rebuilds are not feasible, and it presents contractors with products requiring less labor-intensive installation.

“Combining the best of two brands, Firestone and Gaco, represents an opportunity for growth and long-term value as we aim to create new levels of service and innovation in our industries,” says Tim Dunn, president of Firestone Building Products, Bridgestone Americas Inc. “Operations will conduct business as usual across all teams as we begin bringing our portfolios, employees, best practices and distribution platforms together to continue serving as a total solutions provider for our collective customers.”

In addition to expanding Firestone’s roofing product portfolio with silicone polyurethanes, epoxies and acrylic liquid coatings, the deal offers new positions in commercial and residential sectors with decking and waterproofing products that protect pedestrian surfaces, concrete, metal and plywood, and open- and closed-cell foam products which protect and insulate buildings.

Gaco products will continue to be sold under the Gaco brand and will continue to be made at a state-of-the-art manufacturing, research and development facility in Waukesha, Wis.

Financial details of the transaction are not being disclosed.

Firestone Acquires Provider of Waterproofing, Spray Foam Insulation Solutions

Firestone Building Products Company LLC (Firestone) has announced that it has reached a definitive agreement to acquire Gaco Western (Gaco), a provider of waterproofing and spray foam insulation solutions for a variety of commercial and residential applications. The acquisition strengthens Firestone’s leadership in commercial roofing and offers positions in residential and commercial building products, reinforcing its commitment to be a leader in the building envelope solution. Firestone Building Products is part of Bridgestone Americas, the largest subsidiary of Bridgestone Corp., a tire and rubber company.

“This acquisition supports our strategic plan to penetrate adjacent product segments,” says Tim Dunn, president of Firestone Building Products. “Adding Gaco’s product portfolio will expand our offering, broaden our customer base, and reaffirm our commitment to being a total solutions provider. We are now also in a position to better capitalize on the demand for liquid coating products and are excited about the opportunity to unearth the value that exists in the combination of the two businesses.”

Financial details of the transaction are not being disclosed. The acquisition is expected to be completed before the end of the first quarter 2017, subject to regulatory approvals and other customary closing conditions.

Founded in 1955, Gaco is privately-owned and headquartered in Seattle. With brands including GacoFlex, GacoRoofFoam and GacoWallFoam, the company produces silicone polyurethanes, epoxies and acrylic liquid coatings for roofs; decking and waterproofing products that protect pedestrian surfaces, concrete, metal and plywood; and open- and closed-cell foam products which protect and insulate buildings. All Gaco products are made at its manufacturing, research and development facility in Waukesha, Wis.

The combination will allow Firestone to provide customers with additional products for their roofing needs. By delivering a repair product at a competitive price point, Gaco’s portfolio of silicone and acrylic liquid coatings offers an alternative for situations when full roof tear-off and rebuild are not an available solution. For contractors, these products allow for less labor-intensive installation, reducing costs. Additionally, the transaction enables Firestone to offer its customers access to Gaco’s waterproofing solutions.

Firestone is a leader within the roofing industry and has a vision for the broader building envelope, combining service, product, and innovation, with a substantial distribution platform. We are excited at the prospects of joining Firestone as it allows us to continue to drive R&D, deliver products to our customers, and offer additional career opportunities to our employees,” says Peter Davis, Gaco chairman and CEO.

Firestone Releases Sustainability Report

Firestone Building Products Company LLC has released the “2015 Global Sustainability Report” detailing the company’s progress in achieving its environmental goals and fulfilling its commitment to contributing to an environmentally sustainable society. The report, which provides an overview of the company’s environmental performance measured using criteria set forth by the Global Reporting Initiative (GRI), demonstrates how Firestone is using metrics to drive performance across its business. 
 
Firestone had a number of accomplishments that are outlined in the 2015 report. By focusing its efforts on three key areas: people, process and products, Firestone:

     

  • Launched two new products with near zero Volatile Organic Compounds (VOCs), making it safer for contractors, building occupants and the environment
  • Increased the number of voluntary reporting indicators from 10 to 37 for greater transparency in reporting
  • Decreased wastewater discharge by 23 percent between 2014 and 2015

 
“Firestone has a long-standing commitment to driving the type of innovation that will enable our products to meet global standards throughout their lifecycle – from production to performance,” says Tim Dunn, president, Firestone Building Products. “It is through the dedication and hard work of our employees worldwide that we are able to make environmental improvements in our products and processes, and demonstrate leadership in our industry.
 
Firestone is adhering to the GRI G4 reporting standard to ensure comprehensive sustainability reporting. The company expects certification to the G4 standard later this year.
 
As part of Bridgestone Americas, Firestone is committed to being a good corporate citizen globally, nationally and especially in the communities where it has manufacturing facilities, sales facilities and offices. Bridgestone Americas’ parent company, Bridgestone Corp., was recently named to the Dow Jones Sustainability World Index for the first time, and the Dow Jones Sustainability Asia Pacific Index for the seventh consecutive year. Firestone’s corporate citizenship commitments extend beyond sustainability. In 2015, Firestone employees gave their time and talents in plant and headquarters communities to organizations that support education, the arts, health and wellness, and work to improve peoples’ lives.
 
To learn more about Firestone Building Products, or to download a copy of the 2015 Firestone Building Products Global Sustainability Report, visit firestonebpco.com.

Firestone Building Products Recognizes Firms With 2016 Partner in Quality Award

Firestone Building Products Co. LLC recognizes 133 firms with the 2016 Partner in Quality Award. The sought-after annual award honors Firestone Building Products Red Shield Licensed Roofing Contractors for their high-level craftsmanship and quality-focused skill set required to achieve superior roofing installations.

Firestone Building Products Red Shield Licensed Roofing Contractors are required to complete extensive product installation training. They must also meet Quality Incidence Rating (QIR) criteria. QIR measures each contractor’s performance based on the number of warranty repair incidences per million square feet.

As a testament to their expertise, Partner in Quality Award winners’ projects are backed by the Firestone Building Products Red Shield Warranty. Depending on the commercial roofing system, terms of the warranty can range from five years to 30 years. To qualify, winners must:
•Install a minimum of eight warranted roofs in 2014 and 2015, and four warranted roofs per year for each of the prior three years
•Maintain at least 1 million square feet of Firestone Building Products roofs under warranty
•Achieve an annual Firestone Building Products QIR of 1.0 or less

Winners are also able to participate in the Firestone Building Products Community Service Program, which makes them eligible for a $1,000 annual credit to donate labor and materials for roofing projects in their respective communities.

“At Firestone Building Products, we hold our valued partners to a high standard,” said Tim Dunn, president of Firestone Building Products. “The Partner in Quality Award is reserved for those who achieve the highest levels of roofing quality. We certainly recognize what it means to go above and beyond and look forward each year to honoring these talented, hardworking contractors with the praise they deserve.”

Please visit the Firestone Building Products website for a complete listing of Partner in Quality Award winners: http://firestonebpco.com/content/uploads/2016/05/2016-Partner-in-Quality-Program-Winners.pdf