Debevoise & Plimpton LLP is advising Cornerstone Building Brands, Inc. (NYSE: CNR) in a definitive agreement to sell its Insulated Metal Panels (“IMP”) business to Nucor Insulated Panel Group Inc. and certain of its subsidiaries in a cash transaction for $1 billion. Under the terms of the agreement, Cornerstone Building Brands will sell seven manufacturing facilities, three offices, and a product innovation center, all located in North America. For more information, please see the press release.
Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Its IMP business is a leading manufacturer of insulated metal panels in North America, a lightweight cladding solution servicing all sub-sectors within the non-residential end market.
The Debevoise team is led by M&A partners Chris Anthony and Paul Bird and includes associates Sean Foley and Alec Smith and law clerk Julia Chen, finance partner Jeffrey Ross and associates Brett Novick and Alyssa Novoselac, benefits counsel J. Michael Snypes, Jr. and associate David Deutsch, tax partner Peter Furci and associate Robert Nelson-Sullivan, antitrust partner Michael Schaper and counsel Erica Weisgerber, capital markets partner Morgan Hayes, intellectual property partner Henry Lebowitz and associate Emily Mackay and environmental counsel Stuart Hammer.