The plan to introduce shares of Associated Materials to an IPO is well underway as buyout firm Hellman & Friedman LLC has picked the banks to manage the home building materials manufacturer's share sale. The banks chosen are Goldman Sachs Group, Barclays and UBS AG.
Hellman & Friedman has purchased the company for US$1.3 billion in 2010, according to two anonymous sources familiar with the matter last Friday.
Associated Materials manufactures products such as vinyl and aluminium siding together with vinyl fencing using brand names such as Gentek and Alpine Windows. This is but one of the home building products firms looking to go public in 2013 while the US housing market continues on its path to recovery.
Hellman & Friedman purchased Associated Materials from its original owner Investcorp and Harvest Partners, who did not respond to requests for comments on the matter.
Both Goldman and Barclays declined to comment while UBS could not be reached for their side of the story.
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