How The AZEK Company Used DealRoom to Manage Deals Pre-LOI Through Close

About the Company:

• The AZEK Company was founded in 1983 as an industry-leading designer and manufacturer of visually appealing, low maintenance, and environmentally sustainable outdoor living products.
• The company is consistently recognized as the market leader in innovation, quality, and aesthetics. The AZEK Company’s products are made from up to 90% recycled material and provide a long-lasting, eco-friendly, and stylish solution to consumers.
• The AZEK Company is committed to accelerating the use of recycled material in the manufacturing of their innovative products, keeping millions of pounds of waste out of landfills each year, and revolutionizing the industry to create a more sustainable future.

Challenges:

The AZEK Company saw what similar companies were able to accomplish through M&A, and knew they needed to search for a new solution to complete deals on a bigger scale. They were using outdated methods that appeared unprofessional and took way too long. Sending Excel spreadsheets back and forth wasn’t going to do the job anymore. They needed a pipeline and deal management software that lets them share information with everyone in real-time to keep up with the volume of deals they were doing. Their current system led to unnecessary phone calls, wasted time, and constant confusion.

• Delays in information and version control issues
• Manual diligence trackers
• Original tools were very basic and standard
• Struggles with cross-functional communications between external and internal stakeholders
• No pipeline or deal management software, lack of an updated diligence request list
• Weekly calls to stay organized

Solutions:

When Chris Russell, Head of Corporate Development at The AZEK Company, knew he was on the hunt for a software solution, he reached out to his network to start vetting M&A platforms. DealRoom came highly recommended by his network and was top-rated for many of his most important metrics. He then did broader research online, demoed the product, showed it to his fellow team members, and realized he finally found what he was looking for. DealRoom allowed him and his team to have an easy onboarding process since it was so intuitive and user-friendly, and it ticked all the boxes.

• An intuitive platform meant less time onboarding new team members and external users
• DealRoom’s cloud-based software, capabilities for diligence, and communication features allowed for The AZEK Company to increase timeliness, quality of work, and accuracy
• The simplicity and ease of the UI/UX allowed everyone to get up to speed quickly and delegate tasks efficiently
• Advanced security controls, customizable permission request settings, and priority settings

Outcome:

Since The AZEK Company has switched over to using DealRoom they have seen a drastic difference in the ease, efficiency, and speed of their deals. Having a central point of collaboration for both internal and external teams has been an absolute game-changer. There has only been positive feedback from all parties using the platform, and they have been able to completely remove the excessive phone calls since all information is presented to the right people at the right time since everything is live. They were even able to eliminate the need for an analyst, saving the company $93,000 on average a year. Chris Russell was able to close a deal in eight weeks with DealRoom, which was the fastest ever in his M&A career.

• Onboarding was 5x faster, and there were compliments on the ease of onboarding and adoption
• No more unnecessary phone calls and meetings because all information is presented in real-time to the right people
• Real-time results during diligence lead to an easy exchange of information and less confusion during the process
• Deals closed faster than ever before and fewer people were needed to get the job done
• Improved relationships due to less frustration, saved time, stronger communication, and a better reputation during deals

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