Atlas Holdings, a Greenwich-based diversified group focused on manufacturing and distribution businesses, has announced the sale of Erickson Construction to the U.S. subsidiary of Asahi Kasei Homes (AKH). Terms of the transaction were not made public.
Atlas Holdings formed Erickson in connection with its acquisition of the Erickson Framing division of Masco Corp. in 2012. Erickson is headquartered in Chandler, Arizona, and Erickson provides residential framing products and services to homebuilders in Arizona, California and Nevada. AKH serves the Japanese and Australian markets. The acquisition marks its first foray into the U.S. home construction industry.
“This sale marks the culmination of Erickson”™s remarkable transformation into a strong, profitable enterprise that sustainably outpaces its competitors,” said Sam Astor, partner at Atlas Holdings. “Consistent with our broader approach, Atlas invested in Erickson as long-term owners. Atlas has consistently believed in what Erickson could become as a result of the company”™s differentiated business model and our strong partnership with the Erickson leadership team. We are pleased that Asahi Kasei is committed to take Erickson to even greater heights and are confident that Asahi is the right owner for the next chapter of the Erickson story.”
