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The North American building products sector has been consolidating along product-line boundaries, as manufacturers shed adjacent operations to concentrate exposure on the housing cycle.
Against that backdrop, Griffon Corporation (NYSE: GFF), the largest manufacturer of garage doors and rolling steel doors in North America, confirmed in a recent SEC filing that it completed the formation of a joint venture for its AMES North America business on June 9, 2026, receiving $100 million in cash, a $161.1 million second-lien paid-in-kind debt receivable, and a 43% equity stake with an initial carrying value of $118.6 million.
Veritage Brands: structure of the new entity The joint venture, named Veritage Brands, combines AMES North America with the Bellota Tools, Corona, and Burgon & Ball businesses of Venanpri, an ONCAP Management Partners-majority-owned portfolio company.
Venanpri, together with other affiliates of ONCAP (the mid-market private equity arm of Onex Corporation, TSX: ONEX), holds 57% of Veritage.
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