Armstrong World Industries, Inc.

Armstrong World Industries, Inc.

Armstrong World Industries, Inc.

Overview
Date Founded

1860

Headquarters

2500 Columbia Avenue, Lancaster, PA, 17603, USA

Type of Company

Public

Employees (Worldwide)

2,500

Industries

Building Products & Construction Materials
Real Estate
Wholesale: Consumer Non-Durables/Sundries
Other Business & Consulting Services
Retail: Home Improvement
Industrial Machinery & Manufacturing
Furniture
Engineering, Construction & Architecture

Company Description

Armstrong World Industries, Inc. engages in the design, manufacture, and trade of commercial and residential ceiling, wall, and suspension system solutions. It operates through the following segments: Mineral Fiber, Architectural Specialties and Unallocated Corporate. Mineral Fiber segment produces suspended mineral fiber and soft fiber ceiling systems for use in commercial and residential settings. Architectural Specialties segment roduces and sources ceilings and walls for use in commercial settings. Unallocated Corporate segment includes assets, liabilities, income and expenses that have not been allocated to other business segments. The company was founded by Thomas M. Armstrong in 1860 and is headquartered in Lancaster, PA.

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Executives & Employees

Director, Chief Executive Officer & President

President & Chief Executive Officer

Chief Financial Officer & Senior Vice President

Secretary, Senior Vice President, Business Development, Chief Compliance Officer & General Counsel

Principal Accounting Officer, Vice President & Controller

Managing Director, Asia Pacific

Managing Director, Europe, Middle East & Africa

Executive Vice President

Senior Vice President, Human Resources

Senior Vice President, Ceiling & Wall Solutions

Board of Directors

Former Interim President & Chief Executive Officer at Armstrong Flooring, Inc.

Former Chairman, President & Chief Executive Officer at HNI Corp.

Chief Strategy Officer at After School Matters, Inc.

Managing Partner at Range Light LLC

Partner at PricewaterhouseCoopers LLP

Executive Vice President & Chief Information Officer at Supervalu Pension Fund

Professional at Kaplan, Strangis and Kaplan, P.A.

President & Chief Executive Officer at Armstrong World Industries, Inc.

Associate at Northwestern University

Former Executive Vice President & Chief Financial Officer at Whirlpool Corp.

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Armstrong World Industries, Inc.
Owners & Shareholders
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Lazard Asset Management is known for its global perspective on investing and years of experience with global, regional and domestic portfolios. With more than 280 investment personnel worldwide, we offer investors of all types an array of equity, fixed income, and alternative investment solutions from our network of local offices in ten different countries. Our team-based approach to portfolio management helps us to deliver robust and consistent performance over time, and strong client relationships allow us to understand how to employ our capabilities to our clients' advantage. With over $146.0 billion in assets under management, we have offices located throughout the world in Bahrain, Boston, Chicago, Frankfurt, Hong Kong, London, Milan, Montreal, New York, San Francisco, Seoul, Sydney, Tokyo, Toronto, and Zurich. Lazard Asset Management’s business is a diversified, global investment platform that focuses on managing assets for our clients. As a result, throughout all market environments, we maintain a disciplined approach to investing with a research-driven investment process focusing on financial productivity and valuation. We believe there are substantial opportunities for value driven investors and continue to seek out and invest in companies with healthy balance sheets and sustainability of returns

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London Company offers multiple distinct investment strategies, all relatively concentrated with low annual turnover. Each strategy is created from the same, universal investment process. Their guiding principles for their investment philosophy include: focus on cash return on tangible capital, not earnings per share; the value of a company is determined by cash inflows and outflows discounted by the optimal cost of capital; and optimal diversification is essential to favorable investment results. The firm utilizes a differentiated conservative investment process focused on bottom up, fundamental analysis, utilizing a proprietary balance sheet optimization model and following a risk controlled sell discipline. They primarily seek the following characteristics: high return on capital, consistent free cash flow generation, predictability and stability, and conservative valuations. The firm screens for these primary characteristics and then the investment team will review and possibly seeks potential purchase candidates from the screen. The team will exercise further fundamental and qualitative analysis on selected candidates, in addition to estimating intrinsic values by performing an internal balance sheet optimization analysis, as well as adjusting to market other company assets that may provide further downside protection. The company's management, incentives, actions, capital allocation decisions and corporate governance structure to ascertain whether or not management's interests are aligned with shareholders are also evaluated by the investment team.

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Cantillon Capital Management seeks long term capital appreciation by investing in a globally diversified portfolio of equities and equity-related securities, which includes securities of emerging markets issues which are listed or traded on recognized exchanges. The firm believes that there is a direct relationship between a company's long term sustainable financial productivity (SFP) and its intrinsic value. Financial productivity is a measure of the profits a company generates for a given level of investment in the business. Cantillon strives to generate positive rates of return by investing in companies which generate high levels of SFP and whose listed securities trade at a discount to their intrinsic value. Cantillon Capital Management's investments primarily include equities and equity-related securities which are listed or traded on a recognized exchange, which includes common and preferred stock, exchange-traded options on equities, equity warrants and convertible securities in all countries, including emerging markets issues. The firm may also invest in corporate and government fixed-income securities (investment grade, high yield and not rated), spot and forward currency contracts, reverse repurchase agreements for efficient portfolio management, and ETFs, that offer exposure to industries, regions or emerging stock markets.

Recent Transactions
Details Hidden

Armstrong World Industries, Inc. purchases Tectum, Inc.

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purchases Armstrong Flooring, Inc. from Armstrong World Industries, Inc.

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Armstrong World Industries, Inc. issued USD Common Stock

Insider Transactions
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Transaction Advisors
Escrow Agent

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Underwriter

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Auditor

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Legal Advisor

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Legal Advisor

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Director

Advised onArmstrong World Industries, Inc. issued USD Common Stock

Advisors & Consultants
Legal Advisor

Partner at O'Melveny & Myers LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Clients

Home Depot, Inc. is a home improvement retailer, which engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.

Lowe's Cos., Inc. engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodelling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors. The company was founded in 1946 and is headquartered in Mooresville, NC.

KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes and condominiums. It operates through the following segments: West Coast, Southwest, Central and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects. The company was founded in 1957 and is headquartered in Los Angeles, CA.

Key Stats and Financials As of 2019
Market Capitalization
$3.39B
Total Enterprise Value
$5.25B
Earnings Per Share
$4.85
Revenue
$1.04B
Net Profit
$240M
Total Equity
$365M
Debt TEV
0.12x
EBITDAMargin
30.11%
Enterprise Value Sales
5.06x
Enterprise Value EBITDAOperating
16.69x
TEVNet Income
21.88x
EBITDA
$313M
Total Debt
$646M
Three Year Compounded Annual Growth Rate Of Revenue
-5.58%
Five Year Compounded Annual Growth Rate Of Revenue
-16.19%
Non-Profit Donations & Grants
Investments
Details Hidden

Interface Performance Materials, Inc. manufactures and provides materials, sealing solutions, thermal and acoustic management systems, and specialty products to customers worldwide for a range of applications across the heavy-duty diesel, automotive, small engine, industrial, and related industries. It offers fiber composite, rubber edged composite, metal and metal laminates, self adhesive thermal shield, heat shield filler, thermal millboard, electrical barriers, and manufacturing process materials. The company was founded in 1911 and is headquartered in Lancaster, PA.

Suppliers
Manhattan Associates, Inc. IT Consulting & Services | Atlanta, GA

Manhattan Associates, Inc. engages in designing, building and delivering supply chain commerce solutions by converging front-end sales with back-end supply chain. It operates through the following geographical segment: The Americas; Europe, Middle East, and Africa; and Asia Pacific. The company was founded by Deepak Raghavan in October 1990 and is headquartered in Atlanta, GA.

Compañia Minera Autlan SA de CV Non-Energy Mining & Minerals | San Pedro Garza García, Mexico

Compañia Minera Autlan SA de CV engages in the exploration, production, and sale of manganese minerals and ferroalloys. Its products include high carbon ferromanganese, medium carbon ferromanganese, low carbon ferromanganese, silicomanganese, nitride medium carbon ferromanganese, specialties other ferroalloys, manganese nodules, manganese carbonate, battery grade natural manganese dioxide, ceramic grade natural manganese dioxide, and manganous oxide. The company was founded on October 5, 1953 and is headquartered in San Pedro Garza Garcia, Mexico.

Akzo Nobel NV Chemicals | Amsterdam, Nld

Akzo Nobel NV is a holding company that engages in the manufacture and sale of coating and paint products. It operates through the following segments: Decorative Paints, Performance Coatings, and Specialty Chemicals. The Decorative Paints segment manufactures and supplies a range of interior and exterior decoration and protection products for professional and do-it-yourself markets. The Performance Coatings segment produces automotive and aerospace; industrial; marine and protective; and powder coatings. The Specialty Chemicals segment manufactures functional, industrial, and pulp and performance chemicals. The company was founded in 1994 and is headquartered in Amsterdam, Netherlands.

Competitors
Koch Industries, Inc. Chemicals - Wichita, KS

Koch Industries, Inc. began as Wood River Oil and Refining Co. in 1940. The company is based in Wichita, Kansas and is one of the largest private companies in America. Its major industries include refining, chemicals & biofuels, process & pollution control equipment and technologies, minerals, fertilizers, polymers & fibers, commodity trading & service, forest & consumer products, and ranching.Koch companies have supported education and social progress. These philanthropic efforts include support for educational institutions, foundations and programs that study and promote market-based solutions to societal challenge. Koch also works to protect, conserve and enhance natural resources; Koch companies around the world have earned awards for safety, environmental excellence, community stewardship, innovation and customer service since January 2009.

Mohawk Industries, Inc. Textiles - Calhoun, GA

Mohawk Industries, Inc. engages in the manufacture, design, and distribution of residential and commercial flooring products. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications. The Flooring NA segment includes floor covering product lines, in a broad range of colors, textures, and patterns. The Flooring ROW segment consists of laminate, hardwood flooring, and vinyl flooring products, roofing elements, insulation boards, medium-density fiberboard, and chipboards. The company was founded on December 22, 1988 and is headquartered in Calhoun, GA.

Stanley Black & Decker, Inc. Tools & Hardware - New Britain, CT

Stanley Black & Decker Since 1843, we’ve set the standard for excellence in everything we do. No company on earth has a stronger or more compelling history of delivering the hardworking, innovative, powerful tools that help professionals around the world build, repair, and protect the world’s most valuable things. We are the leader in tools and security. We are Stanley Tools. We are DEWALT. We are Mac Tools. We are Porter-Cable. And we are much more. We are the doors that protect you at airports. We are the lock and deadbolt on your front door. We are the hydraulic breakers that rescue trapped earthquake survivors. We are the people on the phone in an emergency. No matter where you live, what car you drive, what stores you shop at, or what building you work in, you can bet that we had a hand in making it work. And you can guarantee that we’ll keep making it work

Awards & Honors
Rank #857
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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