Greenwood Village, Colorado – March 3, 2015— Burlingame Industries Inc. (“Burlingame”) and Republic Financial Corporation (“Republic”), a privately held company with investment interests in a diverse portfolio of operating companies, announced today that Republic has acquired the operating assets of Burlingame’s CeDUR product line. Concurrent with the sale, a new company was formed and will operate under the CeDUR name. CeDUR will manufacture state-of-the-art polyurethane cedar shakes for application on residential and commercial roofs.
Republic will provide capital and financial expertise to support the new management team in its continued growth of the business and the pursuit of strategic initiatives. Effective with the transaction close, CeDUR will relocate manufacturing and production to Aurora, Colorado and anticipates shipping product by July 2015.
Joining CeDUR in senior management roles are Dave Dalton and Paul Mallorey.
Dave Dalton joined CeDUR as its Vice President Sales and Marketing. Before joining CeDUR, Dalton was Director of Business Development for Orica Limited where he led its sales and operations team to drive product and specifications in the oil and gas and civil construction markets. Prior to Orica, Mr. Dalton was the Senior Vice President for Georgia Pacific Corporation – Blue Linx Corporation and was responsible for sales and distribution of building products in the Western United States, Canada and Mexico. Mr. Dalton will be responsible for developing CeDUR’s distributor relationships as well as the company’s agreements with its key roofing contractors.
Paul Mallorey has joined CeDUR as its Vice President of Manufacturing. Before joining CeDUR, Mallorey was Director of Manufacturing for Burlingame where he was responsible for all facets of manufacturing for the CeDUR roofing product. Prior to Burlingame, Mr. Mallorey was the Executive Vice President, Manufacturing for Endur-All Technologies, Inc where he developed the technology from prototype stage to high volume production of the CeDUR roofing product.
We are very excited to have Dave and Paul join our team,” commented Bart Roggensack, a CeDUR Board member. “Dave was brought on because of his extensive sales and marketing experience in the building products industry which will be invaluable to CeDUR as we ramp up production and expand our product offerings.” Paul has over 30 years of polyurethane manufacturing experience and will be instrumental in our manufacturing operations.
Republic’s success as an investor is attributable to the significant amount of time, talent and resources it expends analyzing, underwriting and managing the assets acquired. Republic emphasizes tracking the markets in which it operates and gaining a detailed understanding of opportunities through extensive due diligence in order to maximize returns while mitigating risk.
About Republic Financial Corporation
Founded in 1971, Republic Financial Corporation is a private investor with a diverse portfolio of operating companies and assets. We have four core business disciplines: Commercial Aviation, Special Assets, Portfolio Companies and Clean Coal Solutions. Republic has achieved consistent success for nearly 45 years by developing creative solutions to difficult and complex business situations and by enhancing value for stakeholders. For more information visit www.republic-financial.com.
CeDUR is located in Aurora, Colorado and is a manufacturer of polyurethane shake shingles. CeDUR shakes are inspired by the enduring beauty of natural cedar shakes for application on residential and commercial roofs. CeDUR is manufactured using state –of – the- art polyurethane technology that was developed to withstand harsh, fire, hail, wind and UV conditions. Discerning homeowners choose CeDUR as the low maintenance, high performance roofing product that enhances the beauty and value of their home. For more information visit www.cedur.com
About Burlingame Industries Inc.
Eagle Roofing Products is a Division of Burlingame Industries, a Rialto, California based privately held, family-owned organization that has been in the tile roofing industry for over 40 years. Eagle began operations in the fall of 1989, licensed the rights to CeDUR in 2004 and later developed the present manufacturing process.
About Endur-All Technologies, Inc.
Endur-All Technologies, Inc, located in Greenwood Village, Colorado developed the original formulation and intellectual property for CeDUR. Endur-All Technologies, Inc. (ETI) a privately owned, Colorado corporation was started in 1996 for the purpose of using a new materials technology for the development of new, innovative, high performance building products.
Republic Financial Corporation