Griffon Corporation, the owners of AMES UK, have announced a set of “strategic actions to streamline the company’s portfolio and enhance shareholder value.”

Griffon will concentrate on North American building products and their AMES United States and Canada businesses will form part of a new Joint venture with ONCAP’s Venapri Tools, owners of Burgon & Ball.

At the same time Griffon has announced that it has initiated a review of strategic alternatives for AMES UK operations.

GTN Xtra has asked AMES UK and Burgon & Ball for comment.

The full Griffon announcement is here:

Griffon Corporation Taking Strategic Actions to Maximize Shareholder Value

February 5, 2026

Griffon’s AMES North America and ONCAP’s Venanpri Tools to form professional and consumer products joint venture, providing immediate financial benefits

Company announces strategic alternatives process for AMES Australia and UK

Hunter Fan to be combined with Home and Building Products segment

NEW YORK--(BUSINESS WIRE)--Feb. 5, 2026-- Griffon Corporation (NYSE: GFF) (the “Company” or “Griffon”) today announced a set of strategic actions to streamline the company’s portfolio and enhance shareholder value. When these actions are completed, Griffon will be a pure-play, residential and commercial, North American building products company with leading positions in residential garage doors, commercial sectional doors, rolling steel doors and grille products, and residential and commercial ceiling fans.

In a joint release issued earlier today, Griffon and ONCAP, a subsidiary of Onex Corporation (TSX:ONEX), announced they have entered into a definitive agreement to form a joint venture creating a leading global provider of hand tools, home organization solutions, and lawn and garden products for professionals and consumers. The joint venture will include Griffon’s AMES Companies (“AMES”) United States and Canada businesses, which are currently part of Griffon’s Consumer and Professional Products (“CPP”) segment, and ONCAP’s Venanpri Tools, a global professional and consumer tool provider including the Bellota, Corona, and Burgon & Ball businesses.

Under the terms of a master transaction agreement, the joint venture will purchase the AMES U.S. and Canada businesses from Griffon, and the Bellota, Corona, and Burgon & Ball businesses from ONCAP. The joint venture will be managed as a subsidiary of a portfolio company of ONCAP which, together with other affiliates, will hold a 57% equity interest. Griffon will receive $100 million in cash proceeds as well as $161 million in second lien debt from the joint venture, and will hold a 43% equity interest.

“We are confident the combination of Venanpri Tools and AMES will create substantial value as a global platform with the strength and diversity to thrive in the evolving global landscape,” said Ronald J. Kramer, Chairman and CEO of Griffon. “We are looking forward to working with our partners at ONCAP to make this joint venture a success.”

Also today, Griffon announced the initiation of a comprehensive review of strategic alternatives for CPP’s AMES Australia operations.

“AMES Australia has grown from a small business acquired as part of AMES in 2010 into a category leader in Australia and New Zealand,” said Mr. Kramer. “We will identify opportunities for our exceptional team in Australia to take the business to the next level while creating value for our shareholders.”

AMES Australia is expected to generate approximately $40 million of adjusted EBITDA in fiscal 2026.

Griffon has also initiated a review of strategic alternatives for CPP’s AMES United Kingdom operations.

Today, Griffon also announced the Hunter Fan Company (“Hunter”), currently within the CPP segment, will be combined with the Home and Building Products segment.

“Our strategic actions, taken together, will result in a fundamental refocusing of our businesses into a pure-play building products company,” added Mr. Kramer. “In North America, we are the largest provider of residential garage doors and commercial sectional doors, rolling steel doors, and grille products, as well as a leading brand of residential and commercial ceiling fans. Our brands maintain exceptional leadership positions and are led by strong, collaborative teams. We will continue to focus on growing our businesses organically, while prioritizing returning value to our shareholders.”

As a result of these actions, beginning with Griffon’s second quarter 2026 reporting, AMES U.S., Canada, Australia, and UK will be reported as discontinued operations.

https://ir.griffon.com/news-releases/news-release-details/griffon-corporation-taking-strategic-actions-maximize