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C.W. Downer & Co. Advises Chicago Metallic on Sale to The Rockwool Group

BOSTON, October 2, 2013 – C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Chicago Metallic Corporation (“CMC” or the “Company”) has been sold to Rockwool International A/S, on behalf of its Rockfon subsidiary. The deal closed on September 30, 2013 for a total consideration of $140 million.

Founded in 1893 and headquartered in Chicago, IL, CMC is a leading global manufacturer of metal grid suspension ceiling systems, specialty metal ceilings, and acoustical and sustainable ceiling panels.

The acquisition of CMC is in line with Rockwool’s stated strategy to further develop its global ceiling business in North America, Europe and Asia Pacific. The addition of CMC’s product offerings will allow Rockwool to deliver a complete and comprehensive grid and tile system solution to its customers across the globe.

Since 1962, Rockfon has manufactured sustainable stone wool ceiling tile solutions for its European customers. Stone wool is a natural, sustainable material created when crushed volcanic rock is melted and spun into wool fibers. The fibers are compressed into rolls or sheets before being cured in an oven.

Mr. Herman Voortman, Division Managing Director of the Rockwool Group’s Systems Division, commented on the acquisition in a company press release: “This acquisition complements well the existing Rockfon business concept. It will allow us to offer and develop more complete solutions to our customers by offering not only ceiling panels but also the metallic grid which is a key element in the suspended ceiling system.”

“We are very pleased to have advised Chicago Metallic on this transaction. As a more than century old family owned business, selecting the right strategic acquirer was of paramount importance to the shareholders,” commented Mike Howell, Managing Director & Partner with C.W. Downer & Co. Frank Merkel, Managing Director & Partner added, “In the last two years we have seen a marked increase in building product M&A activity and this represents our fifth transaction in this sector over that period.”

The C.W. Downer & Co. team assisting Chicago Metallic with the sale included Michael Howell (Managing Director & Partner, Boston), Frank Merkel (Managing Director & Partner, Frankfurt), David Waldstein (Associate, Boston), Christopher DiPietro (Associate, Boston) and Christian Lang (Associate, Frankfurt).

About C.W. Downer & Co.

C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 38 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With nine fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

For Further Information:

Michael Howell, Managing Director & Partner
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Frank Merkel, Managing Director & Partner
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Patti Allan, Marketing Director
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C.W. Downer & Co.
+1 617 482 6200

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