GAF, a Standard Industries company and the largest roofing and waterproofing manufacturer in North America, said it signed a definitive agreement to acquire FT Synthetics, a British Columbia-based manufacturer of synthetic underlayments for the steep slope roofing industry.
GAF said it will invest in scaling operations and fueling sustained growth of FT Synthetics.
"This acquisition will enable GAF to pursue our shared goals of continued innovation and explore opportunities for expanded product offerings that support the entire building envelope," said Jim Schnepper, CEO of GAF.
FT Synthetics will continue to operate as an independent business within the GAF portfolio.
FT Synthetics CEO Gary Sandhar will retain a senior leadership position within GAF.
FT Synthetics' product line of steep slope roofing underlayments includes brand names SynTrack, Pro20, PLATINUM, FT GOLD, FT SILVER and HYDRA.