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NCI Building Systems is a manufacturer of metal products for the non-residential building industry. The CD&R Fund acquired newly issued preferred stock resulting in an ownership position in the company of approximately 68.5% on an as-converted basis. Announcement (August 14, 2009): CD&R Fund has entered into a definitive agreement to invest $250 million in NCI Building Systems through the purchase of newly issued convertible participating preferred shares. The preferred shares will initially be convertible into approximately 106.8 million shares of common stock at the CD&R Fund's option. Dividends will be payable quarterly either on a cash basis at 8% per annum or paid in-kind at 12% per annum at the company's option. The CD&R Fund will have a 72% ownership position in the company on an as-converted, pro-forma basis. Greenhill & Co., Inc. is acting as financial advisor, and Wachtell, Lipton, Rosen & Katz LLP is acting as legal advisor to NCI Building Systems. Sagent Advisors, Inc. is acting as financial advisor, and Debevoise & Plimpton LLP is acting as legal advisor to CD&R Fund. Deal Value (US$ Million) 250 Deal Type Private Equity Sub-Category None Deal Status Completed: 2009-10-20 Deal Participants Target (Company) NCI Building Systems, Inc. Deal Rationale NCI Building Systems would use the proceeds for the debt repayment and to fund its future growth. For full details on Nci Building Systems Inc (NCS) click here. Nci Building Systems Inc (NCS) has Short Term PowerRatings of 5. Details on Nci Building Systems Inc (NCS) Short Term PowerRatings is available at This Link.
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