Genesis Capital is pleased to announce StruXure Outdoor, Inc. (“StruXure” or the “Company”) has been acquired by The AZEK® Company (NYSE: AZEK). StruXure, a founder-owned and operated business, is the premier designer and manufacturer of luxury pivoting-louver smart pergolas and cabanas. The Company’s mobile-app-controlled “smart” pergolas open, close, pivot, and slide depending on the user’s needs, while the cabanas provide a dynamic and customizable space to enjoy the outdoors while remaining protected from the elements.
Scott Selzer, Founder & CEO of StruXure, said, “Genesis Capital did a tremendous job making sure we secured the highest value and best partner for our Company, employees and customers.” Nathan Collins, CFO of StruXure, added, “Selecting Genesis Capital was one of the best decisions we made. They were great to work with throughout the process and added a tremendous amount of value along the way.”
“We are excited to announce AZEK’s acquisition of StruXure as we expand into this natural market adjacency and continue to build leading positions across the large and growing outdoor living category,” Jesse Singh, CEO of The AZEK Company, said. “Pergolas and cabanas are a nearly $1 billion market opportunity and StruXure, along with our TimberTech products, adds another element to homeowners’ creation of beautiful, low maintenance, and sustainable outdoor living spaces.”
Scott Selzer, Founder & CEO of StruXure, said “We are proud to have built a company with a strong brand known for innovative, high-quality products, and we’re excited for this partnership with AZEK. We believe that StruXure will achieve growth in ways we couldn’t otherwise, particularly as we broaden our position with AZEK’s and TimberTech’s existing loyal customer base and explore additional material conversion opportunities.”
Genesis Capital, LLC served as financial advisor to StruXure, while Womble Bond Dickinson (US) LLP served as legal advisor. McGuireWoods LLP served as legal advisor to The AZEK Company.
StruXure is the premier designer and manufacturer of luxury pivoting-louver smart pergolas and cabanas. The company’s mission is to change the way people live by bringing the indoors out through sustainable architectural automation and innovation. Pergola X, StruXure’s signature product, is the highest-quality smart pergola system on the market. Made of extruded aluminum, it is functional, durable, and beautiful. This marks StruXure’s seventh consecutive year ranking on the Inc. 5000 list of fastest-growing privately held companies in the United States. Headquartered in Dahlonega, Georgia, the company operates manufacturing facilities in Georgia and Nevada. For additional information, please visit www.StruXure.com.
About The AZEK® Company (NYSE: AZEK)
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading designer and manufacturer of beautiful, low maintenance and environmentally sustainable outdoor living products, including TimberTech® decking and Versatex® and AZEK Trim®. Consistently recognized as the market leader in innovation, quality and aesthetics, products across AZEK’s portfolio are made from up to 100% recycled material and primarily replace wood on the outside of homes, providing a long-lasting, eco-friendly, and stylish solution to consumers. Leveraging the talents of its approximately 2,000 employees and the strength of relationships across its value chain, The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of its innovative products, keeping millions of pounds of waste out of landfills each year, and revolutionizing the industry to create a more sustainable future. Headquartered in Chicago, Illinois, the company operates manufacturing facilities in Ohio, Pennsylvania and Minnesota, and recently announced a new facility will open in Boise, Idaho. For additional information, please visit www.azekco.com.