Roofing maker GAF acquires Canadian manufacturer

Roofing and waterproofing manufacturer GAF, based in Parsippany, has signed an agreement to acquire FT Synthetics, a British Columbia-based manufacturer of underlayment products.

“FT Synthetics and GAF share a deep commitment to the roofing industry,” GAF CEO Jim Schnepper said in a news release. “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.”

FT Synthetics will continue to operate independently, and CEO Gary Sandhar will retain a senior leadership position within GAF, the company said.

“GAF’s company culture is extremely compatible with FT Synthetics, particularly its focus on the customer experience and providing unparalleled service,” Sandhar said. “We are excited to join the GAF family and look forward to our continued growth together.”

The deal is expected to close later this year, and the financial terms were not disclosed.