Fortress Investment Group (“Fortress”) has announced the acquisition of Gyptech, a global leader in the design, construction, and commissioning of gypsum wallboard and asphalt-shingle manufacturing equipment and services. This strategic acquisition will support Gyptech’s continued growth, with a focus on scaling innovative technologies and expanding client services.
“With Fortress’ support, we will further develop our aftermarket services and introduce energy-efficient technologies that are essential for the future of sustainable construction. We look forward to working with Fortress to continue our legacy of innovation and service excellence,” said Jeremy McKellar, CEO of Gyptech.
The acquisition sees Fortress affiliates acquire a majority stake in Gyptech, with the company’s management team retaining a minority share. This partnership will help propel Gyptech’s global growth, particularly in the development of new technologies and the expansion of its comprehensive client offerings.
Gyptech, with offices in North America and Europe, designs, engineers, and fabricates new and replacement production lines for gypsum wallboard and asphalt-shingle facilities. For over three decades, the company has provided advanced equipment and engineered systems to the global gypsum and roofing industries. From raw material processing to finished products, Gyptech plays a critical role in every stage of gypsum wallboard production and continues to lead innovation in asphalt-shingle manufacturing technology.
The acquisition will enable Gyptech to enhance its client support, optimize equipment performance, and expand its aftermarket services, including spare parts and technical services. Additionally, Gyptech is at the forefront of developing and implementing energy- and carbon-reduction technologies, including heat-pump systems, to reduce natural gas consumption and carbon emissions in operations.
“This acquisition represents a significant milestone for Gyptech,” said McKellar. “With Fortress’ backing, we are positioned to grow our aftermarket services and bring energy-efficient technologies to the market, which are essential for sustainable construction. We are excited to continue innovating with Fortress and building on our legacy.”
Ben Green, Director at Fortress, added: “Gyptech is a market leader, providing essential equipment for the building construction industry worldwide. With strong market demand and an exceptional leadership team, we are excited about Gyptech’s growth potential. We look forward to working with Jeremy and the team to capitalize on these opportunities.”
Moelis & Company LLC served as exclusive financial advisor to Fortress, and Evercore acted as placement agent on the financing.
About Gyptech
Headquartered in Burlington, Ontario, Gyptech is a global leader in the design, construction, and commissioning of equipment for gypsum wallboard and asphalt-shingle manufacturing. The company provides turnkey production solutions and has a proven track record of delivering high-performance systems worldwide. With decades of experience, Gyptech has been instrumental in shaping modern construction practices and continues to meet the evolving needs of the industry. Gyptech’s core values—innovation, perseverance, caring, and humility—drive its mission to help provide shelter for communities globally.
About Fortress Investment Group
Fortress Investment Group LLC is a leading global investment manager founded in 1998. As of September 30, 2024, Fortress manages $49 billion in assets on behalf of approximately 2,000 institutional clients and private investors worldwide. The firm specializes in a range of credit and real estate, private equity, and permanent capital investment strategies.
