Atlas Holdings announced today that it has completed its acquisition of Permasteelisa Group, a global leader in the engineering, project management, manufacturing, installation and after-sales service of advanced building facades, architectural envelopes and interiors. Permasteelisa Group’s three brands, Permasteelisa, Gartner and Scheldebouw, are recognized as integrated providers of high quality, bespoke curtainwall solutions, and together employ more than 4,500 associates, designing, fabricating and installing projects out of locations in 30 countries, including nine production facilities and eight principal design offices.
Earlier this year, Lixil Group Corp. entered into a definitive agreement to sell Permasteelisa to Atlas Holdings LLC, which, along with its affiliates, own and operate a diversified group of global manufacturing, distribution and construction businesses with an emphasis on safety and operational improvement.
“Permasteelisa Group is trusted by the world’s most visionary architects to turn their designs into reality and has a 100 percent project delivery record over its five decades of market leadership,” says Timothy Fazio, Atlas Holdings co-founder and managing partner. “Combining this unique positioning in the market with Atlas’ construction and manufacturing industry expertise is a win-win for the company, its associates and its customers. We are thrilled to welcome Permasteelisa Group to the Atlas Family.”
Peter Bacon, operating partner of Atlas Holdings, adds, “Permasteelisa Group has brought to life some of the world’s most iconic buildings. The company’s ability to execute large, complex projects is simply unmatched in the curtain wall industry.”
Permasteelisa Group’s notable projects include the Shard in London, Apple’s HQ campus in Cupertino, the World Trade Center redevelopment in New York, where the group worked on 1WTC, 3WTC and 7WTC, the World Financial Center in Shanghai, New York City’s One Vanderbilt and the International Commerce Center in Hong Kong.
“We could not have found a better partner to strengthen our company today and build a brighter future than Atlas Holdings,” said Klaus Lother, Permasteelisa Group CEO. “Our clients trust us to get the job done quickly and flexibly, wherever a project demands, and Atlas’ global footprint and directly relevant experience in the construction and manufacturing arenas is a perfect fit. Most importantly, they have a long-term focus and share our core values; a commitment to environmental stewardship, employee safety and delivering superior customer service. Our team is thrilled to begin working with Atlas.”
Kinya Seto, CEO of LIXIL Group, adds, “We are pleased to have successfully concluded the transfer of Permasteelisa to Atlas, an important step in our ongoing transformation. This transaction will enable LIXIL Group to focus on the future growth of our core water and housing technology businesses, while providing Permasteelisa with an ideal new owner that will build on its proud heritage and strengthen the business in the long term.”