Draft:The AZEK Company

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CPG International Inc.
Company typePublic
NYSE: AZEK
IndustryBuilding Materials
Founded1983; 41 years ago (1983)
Headquarters
Chicago, IL, U.S.
RevenueIncrease US$ 1.3 billion (2023)[1]
Increase US$ 131 million (2023)[1]
Decrease US$ 67 million (2023)[1]
Number of employees
2,236 (September 30, 2023)[2]
Websiteazekco.com

The AZEK Company[edit]

The AZEK Company is a manufacturer of wood-alternative composite and PVC outdoor living and building products for residential and commercial applications.[3][4] Headquartered in Chicago, IL, The AZEK Company operates manufacturing and recycling facilities across the United States.[5][6]

Company history[edit]

Founded in 1983 in Scranton, PA, the company initially manufactured plastic sheet, trim, and moulding products; all used primarily as wood-alternative building materials[7]. Since 2002, The AZEK Company has made a series of acquisitions in the outdoor living category:

  • 2002: Acquired Capitol and Santana Products - bathroom partitions[7]
  • 2007: Acquired Procell Decking Systems - PVC decking[7]
  • 2008: Acquired Composatron Manufacturing Inc. - railing[8]
  • 2012: Acquired TimberTech - composite decking and railing[9][10]
  • 2017: Acquired Ultralox - railing[11]
  • 2018: Acquired Versatex - trim[12]
  • 2020: Acquired Return Polymers - recycling operations[13]
  • 2022: Acquired StruXure - pergolas and cabanas[14]
  • 2022: Acquired Intex Millwork - railing[15]

Previously known as CPG International, the organization rebranded to The AZEK Company in 2018.[16] The company completed it's initial public offering on the New York Stock Exchange under the symbol "AZEK" in June 2020.[17]

AZEK announced the sale of its Vycom business to Plaskolite, LLC. in October 2023.[18]

Leadership[edit]

Jesse Singh was named Chief Executive Officer and President of The AZEK Company in June 2016.[19] Peter Clifford joined AZEK as Senior Vice President and Chief Financial Officer in August 2021; he was named Chief Operations Officer in September 2023.[20] Gary Hendrickson is Chairman of The AZEK Company Board of Directors.[21]

Main business units[edit]

The AZEK Company manufactures outdoor living and building products for residential and commercial applications under several brands:[3][4]

  • TimberTech manufactures composite and PVC deck, porch, and dock boards, and railing for outdoor applications.[22][23] TimberTech boards can also be used in cladding and rainscreen applications.[24]
  • AZEK Exteriors manufactures PVC siding, trim, column wraps, and moulding.[22][25]
  • Versatex manufactures PVC siding, trim, and moulding.[12]
  • Intex manufactures railing, column warps, pergolas, and custom millwork products from cellular PVC.[15]
  • Ultralox manufactures railing systems.[11]
  • StruXure manufactures aluminum pergolas and cabanas.[14]

Environmental considerations[edit]

Following The AZEK Company's acquisition of Return Polymers in 2020, the company announced the launch of its FULL-CIRCLE PVC Recycling program that collects and recycles PVC scrap for reincorporation back into AZEK products like TimberTech decking and railing and AZEK Exteriors siding and trim.[13][26] This program is part of the company's pledge to recycle 1 billion pounds of material annually.[27] In 2021, AZEK received +Vantage Vinyl verification; a voluntary sustainability initiative meant to forward the U.S. vinyl industry's contributions to sustainable development.[28][29]

Fire resistance considerations[edit]

TimberTech Landmark and Vintage collections as well as AZEK Exteriors trim, shingle siding, and sheet have a Class A Flame Spread rating, a measure of how quickly material ignites and spreads flame.[30][31] All TimberTech Advanced PVC collections as well as Reserve and Premier Composite collections are WUI-Compliant; a designation for materials that resist flame spread and catching fire due to flying embers.[32][33]

In 2024, TimberTech Landmark and Vintage collections received an Ignition Resistant designation from the California State Fire Marshal; this designation refers to building materials that resist catching fire or easily burning and may slow the spread of flames.[34]

Industry recognition[edit]

References[edit]

  1. ^ a b c "The AZEK Company Inc". 30 September 2023.
  2. ^ "FORM 10-K: The AZEK Company". 30 September 2023.
  3. ^ a b "'A lot of our momentum is from repair and remodel:' Azek CEO on earnings". Yahoo Finance. 2020-12-04. Retrieved 2024-04-05.
  4. ^ a b "Building products maker 'AZEK' jumps in trading debut". finance.yahoo.com. 2020-06-12. Retrieved 2024-04-05.
  5. ^ "Decking manufacturing company AZEK launches PVC recycling program". Yahoo Finance. 2020-11-16. Retrieved 2024-04-05.
  6. ^ "AZEK Building Products | The AZEK Company". azekco.com. Retrieved 2024-04-05.
  7. ^ a b c "FORM 8-K: CPG INTERNATIONAL INC". www.sec.gov. 2007-02-02. Retrieved 2024-04-05.
  8. ^ "Azek Purchasing Composatron". www.plasticnews.com. 2008-02-25. Retrieved 2024-04-18.
  9. ^ "TimberTech to be acquired". www.plasticstoday.com. Retrieved 2024-04-05.
  10. ^ kbetz@solagroup.com (2012-08-28). "AZEK and TimberTech to Join Forces". Residential Design. Retrieved 2024-04-05.
  11. ^ a b Journal, L. B. M. (2017-12-21). "AZEK Building Products acquires parent of UltraLox, Harmony brands". LBM Journal. Retrieved 2024-04-05.
  12. ^ a b Company, The AZEK. "The AZEK Company Completes Acquisition Of Versatex". www.prnewswire.com (Press release). Retrieved 2024-04-05.
  13. ^ a b Writer, Staff. "The AZEK Co. acquires Return Polymers of Ashland". Ashland Times-Gazette. Retrieved 2024-04-05.
  14. ^ a b "The AZEK Company Acquires StruXure Outdoor, Inc". www.nasdaq.com. 2022-01-04. Retrieved 2024-04-11.
  15. ^ a b MarketScreener (2022-08-04). "The AZEK Company Inc. completed the acquisition INTEX Millwork Solutions, LLC for $25.7 million. - MarketScreener". www.marketscreener.com. Retrieved 2024-04-18.
  16. ^ Journal, L. B. M. (2018-01-08). "CPG International rebrands as The AZEK Company". LBM Journal. Retrieved 2024-04-05.
  17. ^ "Chicago building products company Azek goes public, raises $765 million". www.bizjournals.com. 2020-06-12. Retrieved 2024-04-05.
  18. ^ "The AZEK® Company Announces Definitive Agreement to Sell Commercial Segment's Vycom Business to Plaskolite". Yahoo Finance. 2023-10-11. Retrieved 2024-04-05.
  19. ^ "CPG International names Jesse Singh as new CEO". www.reuters.com/. 2016-06-02. Retrieved 2024-04-05.
  20. ^ Datta, Tiyashi (2023-09-28). "The AZEK company announces Peter Clifford to take on dual role as COO and CFO". www.seekingalpha.com. Retrieved 2024-04-05.
  21. ^ "AZEK | AZEK Co. Inc. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2024-04-05.
  22. ^ a b c "TimberTech® Decking, TimberTech Railing and AZEK® Exteriors Trim Ranked #1 Brands Most Used by Residential Contractors; TimberTech Decking Ranked Highest in Brand Quality, Stickiness". Yahoo Finance. 2023-08-17. Retrieved 2024-04-10.
  23. ^ "A Timeless Renovation, Part Two: Deck Upgrade". Lonny. 2023-11-17. Retrieved 2024-04-11.
  24. ^ "They're Here! Check Out the Winners of Our 2023 Home Renovation Awards". Good Housekeeping. 2023-09-29. Retrieved 2024-04-11.
  25. ^ Kavanaugh, Catherine (2019-03-11). "PVC trim makers offer new qualities to compete". www.plasticsnews.com. Retrieved 2024-04-11.
  26. ^ Council, Vinyl Sustainability (2021-12-03). "Full-Circle: AZEK Disrupts PVC Recycling by Revolutionizing Takeback". Sustainable Brands. Retrieved 2024-04-10.
  27. ^ "The AZEK® Company Publishes 2022 FULL-CIRCLE ESG Report, Demonstrating Commitment to Always Doing the Right Thing and Taking Action to Create a More Sustainable, Circular Future". Yahoo Finance. 2023-08-03. Retrieved 2024-04-10.
  28. ^ Thomas, Ethan (2023-07-19). "Vinyl Sustainability Council Recognizes 26 Companies That Have Become +Vantage Vinyl® Verified". Vantage Vinyl. Retrieved 2024-04-10.
  29. ^ "The AZEK Company® Receives +Vantage Vinyl™ Verification, Demonstrating Leadership Across Three Guiding Principles: Resource Recovery, Emissions, and Health & Safety". investors.azekco.com. 2021-07-12. Retrieved 2024-04-10.
  30. ^ Quarles, Stephen (2009-04-01). "Fire-Safe Decking". www.jlconline.com. Retrieved 2024-04-10.
  31. ^ Products, AZEK Building. "AZEK Deck's Innovative Vintage Collection® Receives Class "A" Flame Spread Index". www.prnewswire.com (Press release). Retrieved 2024-04-10.
  32. ^ "Technical Resources". TimberTech. Retrieved 2024-04-10.
  33. ^ "AZEK Technical Resources for Decking, Railing, Trim & Porch". azekexteriors.com. Retrieved 2024-04-10.
  34. ^ Kavanaugh, Catherine (2024-04-18). "TimberTech PVC decking meets 'ignition resistant' criteria". www.plasticsnews.com. Retrieved 2024-04-18.
  35. ^ "The AZEK® Company Named in 2024 Best Companies to Work for List by U.S. News & World Report". Yahoo Finance. 2023-10-19. Retrieved 2024-04-10.
  36. ^ "Best of IBS Awards 2024 Finalists | IBS 2024". www.buildersshow.com. Retrieved 2024-04-10.
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  40. ^ "March-April 2024 Digital Issue: Sustainable Products of the Year". www.greenbuildermedia.com. Retrieved 2024-04-10.
  41. ^ "The AZEK Story | The AZEK Company". azekco.com. Retrieved 2024-04-10.
  42. ^ "Best of Houzz Award Winners". Houzz. Retrieved 2024-04-10.
  43. ^ "TimberTech and AZEK Brands Rank as Most Used by Contractors". Deck Specialist - A 526 Media Group Publication. 2023-08-18. Retrieved 2024-04-10.
  44. ^ "Climate change calls for cuts in carbon emissions. These US companies are leading the way". tangent.usatoday.com. 2023-05-24. Retrieved 2024-04-10.
  45. ^ "34 Sustainable Products You Need in Your Life". Good Housekeeping. 2023-03-21. Retrieved 2024-04-10.
  46. ^ "They're Here! Check Out the Winners of Our 2023 Home Renovation Awards". Good Housekeeping. 2023-09-29. Retrieved 2024-04-10.
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  48. ^ "Chicago Top Workplaces 2022". Top Workplaces. Retrieved 2024-04-10.
  49. ^ "Chicago Top Workplaces 2023". Top Workplaces. Retrieved 2024-04-10.
  50. ^ Newsweek (2022-03-20). "America's Most Trustworthy Companies 2022". Newsweek. Retrieved 2024-04-10.
  51. ^ "2022 Products Winners - Architizer A+Awards". winners.architizer.com. Retrieved 2024-04-10.
  52. ^ "CohnReznick's Gamechangers in ESG Award Winners". CohnReznick. Retrieved 2024-04-10.
  53. ^ Staff, HBSDealer. "Products deemed 'Golden Hammer' worthy". HBS Dealer. Retrieved 2024-04-10.
  54. ^ Staff, HBSDealer. "Golden Hammer strikes for innovative products". HBS Dealer. Retrieved 2024-04-10.
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  56. ^ "World Changing Ideas Awards 2021: General Excellence Finalists and Honorable Mentions". www.fastcompany.com. 2021-05-04. Retrieved 2024-04-10.

External Links[edit]

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