Bulletin: Guardian Industries Resources LLC Narrows Focus With Sale of SRG Division

PRINCETON (S&P Global Ratings) Oct. 28, 2024--S&P Global Ratings said today that Guardian Industries Resources LLC's announced agreement to sell its SRG Global business to an affiliate of private equity firm Atlas Holdings LLC will not change leverage forecasts. Terms were not disclosed. The SRG division manufacturers interior and exterior trim components for the automotive industry. While this business provided some product diversification, we view the divestiture as consistent with management's strategy to focus on its much larger and profitable Guardian Glass division. We do not expect the sale to change our forecast for adjusted net debt to EBITDA of 0x in 2025 and 2026. Auburn Hills, Mich.-based Guardian (A-/Stable/--) is a privately held and wholly owned subsidiary of Koch

...October 28, 2024 PRINCETON (S&P Global Ratings) Oct. 28, 2024--S&P Global Ratings said today that Guardian Industries Resources LLC's announced agreement to sell its SRG Global business to an affiliate of private equity firm Atlas Holdings LLC will not change leverage forecasts. Terms were not disclosed. The SRG division manufacturers interior and exterior trim components for the automotive industry. While this business provided some product diversification, we view the divestiture as consistent with management's strategy to focus on its much larger and profitable Guardian Glass division. We do not expect the sale to change our forecast for adjusted net debt to EBITDA of 0x in 2025 and 2026. Auburn Hills, Mich.-based Guardian (A-/Stable/--) is a privately held and wholly owned subsidiary of Koch Companies LLC. Following the sale, it will remain one of the largest global manufacturers of glass and glass products for the construction and automotive industries. For more information on our...

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