FT Synthetics is a manufacturer of coated woven fabrics that develops underlayment products designed for the steep slope roofing industry. This includes North American-based operations with advanced equipment for non-woven manufacturing, adhesive application, weaving, coating, lamination and flexographic printing.
“Kevin Mayer and the team at Citizens provided tremendous support and guidance throughout this transaction,” Gary Sandhar, co-owner and CEO of FT Synthetics, said. “Their market knowledge, technical capabilities and strategic negotiation skill set were all crucial to this process. In addition, they were dedicated, responsive and committed to achieving a successful outcome for the company. We look forward to joining GAF and providing our customers even greater value through our combined resources and expertise.”
“This is our third transaction in the roofing underlayment space and our relationship with some of the shareholders of FT Synthetics dates back over a decade,” Mayer, who is managing director at Citizens M&A Advisory, said. “We were thrilled to assist them in finding the right strategic partner to continue their history of growth and innovation. We wish all the FT Synthetics employees and GAF continued success.”