Azek Co. Inc. has averaged more than 15 percent net sales growth over the last seven years. Azek’s growth has been led by consumers choosing to convert wood decking and other products to recycled-content,

The companies entered a definitive agreement under which James Hardie will acquire Azek for a combination of cash and shares, a total transaction value of $8.75 billion, including Azek's net debt of $386 million.

Australian building products company James Hardie Industries is buying the US outdoor products maker AZEK in a cash-and-stock deal valued at approximately $8.75 billion.