Associated Materials LLC Names James Drexinger as Chief Executive Officer

CUYAHOGA FALLS, Ohio, June 7, 2022 /PRNewswire/ -- Associated Materials LLC, a vertically integrated building products company that is a market leader in vinyl windows, vinyl cladding, and metal siding and trim, today announced the appointment of James Drexinger as Chief Executive Officer, effective immediately. Mr. Drexinger succeeds Brian Strauss, who has served as President and CEO of Associated Materials since 2014.

Mr. Drexinger is a proven senior executive in the building products industry, respected for his ability to drive operational excellence, capture market share and improve customer experiences. Most recently, Mr. Drexinger served as the Chief Executive Officer for private equity-backed American Construction Source (ACS), a leading national building materials distribution platform and manufacturer of value-add products for new residential builders and repair and remodel contractors. Under Mr. Drexinger's stewardship, ACS achieved $1 billion in run-rate revenue at above-market gross margins and EBITDA. The company also underwent significant growth during Mr. Drexinger's tenure, both organically and through multiple, strategic acquisitions.

Prior to his role at ACS, Mr. Drexinger served as Division President and Executive Vice President of Stock Building Supply. Mr. Drexinger has also held senior executive roles at Wolseley North America, NIBCO and Armstrong World Industries.

Mr. Drexinger, Chief Executive Officer of Associated Materials, said, "I am looking forward to leading the Associated Materials team and driving the business forward. As Associated Materials enters its 75^th year of operation, there is a unique opportunity to reflect on our success, while at the same time, making significant investment in and renewing key elements of our business and organization to position it for even greater success."

"I am extremely proud to have led Associated Materials," said Mr. Strauss. "I know that Jim has had an exceptional career in the building products industry, and I wish him, and the entire Associated Materials team, the best of luck as they continue to move the company forward."

In March 2022, Associated Materials was acquired by funds managed by Strategic Value Partners, LLC and its affiliates ("SVPGlobal"), a global investment firm with over $18 billion of assets under management. Since the acquisition, Associated Materials has made significant investments in upgrading and broadening the company's capabilities.

David Geenberg, Co-Head of SVPGlobal's North American Investment Team, said, "On behalf of the entire Associated Materials organization, I'd like to thank Brian for his dedication and service, as well as his commitment to managing Associated Materials over these past eight years to a great level of success as a business with excellent products and customer loyalty. We are fortunate to have someone with Jim's skills, vision and deep industry expertise lead Associated Materials during its next phase of growth. We are thrilled to welcome Jim to Associated Materials and look forward to benefiting from his leadership as we invest in bringing the Company's operations, customer experience and employee engagement to new heights in a very bright future for the business."

Associated Materials LLC, a vertically integrated building products company with $1.6 billion in revenues, is a market leader in vinyl windows, vinyl cladding, and metal siding and trim. Its mission is to create successful partnerships with contractors, builders, distributors and dealers by providing, installing and servicing industry leading exterior building products and solutions. The company helps partners create or restore exceptional residential, multi-family and light commercial structures that are energy-efficient, comfortable, long-lasting and beautiful for the home or building owner. The company operates 11 manufacturing facilities in the United States and Canada, which produce vinyl windows, vinyl & composite siding and accessories and metal building products. The company also operates 126 supply centers across the United States and Canada under the Alside® and Gentek® brands, respectively. For more information, visit www.associatedmaterials.com.

Strategic Value Partners, LLC and its affiliates ("SVPGlobal") is a global investment firm that focuses on event-driven, special situations, private equity and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in complex situations. Today SVPGlobal manages more than $18 billion in assets under management, and since inception, has invested almost $41 billion of capital, including approximately $17 billion in Europe. The firm, established by Victor Khosla in 2001, has approximately 145 employees, including approximately 65 investment professionals, across its main offices in Greenwich (CT), London and a presence in Tokyo. Learn more at www.SVPGlobal.com.

Kekst CNC 
Todd Fogarty, Richard M. Goldman, Emma Young 
[email protected]

SOURCE SVPGlobal; Associated Materials