BARRIE, ONT. — Rhode Island-based exterior finish manufacturer Dryvit Systems, Inc. recently announced it has acquired Barrie, Ont.-based Nudura Corporation, a manufacturer and distributor of insulated concrete forms (ICF).
As a part of the transaction, Nudura will become a standalone operating unit of Dryvit, said a recent statement. Nudura has annual net sales in excess of $40 million.
“The acquisition of Nudura reflects Dryvit’s global commitment to providing the built environment with premium, labour-saving, energy-efficient building solutions to meet today’s need for higher-performing building envelopes,” said R. Michael Murphy, president and CEO of Dryvit Systems, in the statement.
“We are extremely pleased to be able to integrate a high-quality, proven ICF option to our already industry-leading array of high-performance, energy-efficient and environmentally responsible building envelope systems.”
“We’re incredibly excited about the synergies between Nudura and Dryvit, which we intend to leverage to our customers’ benefit,” stated Murray Snider, who will continue to lead Nudura as president, reporting to Murphy.
A statement from Nudura said the firm is the world’s leading ICF system with 294 distribution points in five continents. Nudura provides four series of ICF wall systems, consisting of foam boards made from expanded polystyrene and integral hinged plastic webs that hold both sides of the boards together.