Greenfiber

IOP Fund III

Acquisition Date:December 2021
Status:Current
Headquarters:Charlotte, NC
Add-on Acquisitions:

2022 – United Fibers

Description

Greenfiber is the largest North American producer of cellulose insulation, serving primarily the residential remodeling and new-home construction markets under its Sanctuary® brand. In addition to its robust thermal, acoustic, fire, and air insulation properties, cellulose insulation is a carbon negative, sustainable product that is made primarily from recycled materials, does not require harsh chemicals to produce, and contributes towards lower energy usage.

Greenfiber was formed through the simultaneous acquisitions of Applegate Holdings, LLC and Greenfiber, LLC.

Operating Thesis

Execute merger integration of Applegate and Greenfiber. Provide support to existing management team.

Create fundamental improvement in operating performance:

  • Capitalize on opportunities and synergies between Applegate and Greenfiber
  • Implement optimized combined company go-to-market strategy
  • Invest in marketing to communicate performance advantages and environmentally-friendly, “green” attributes of cellulose insulation
  • Execute on growth opportunities in existing and new markets / applications
  • Drive efficiency and throughput with plant operational improvements
Greenfiber