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Daily Newsletter

09 January 2024

Daily Newsletter

09 January 2024

AWI makes equity investment in Overcast Innovations  

AWI has made an initial equity investment of about 20% in the company.

Upasana Mukherjee January 09 2024

Armstrong World Industries (AWI) has forged a strategic partnership with McKinstry through an equity investment in Overcast Innovations. 

Overcast Innovations is a subsidiary of McKinstry, a construction and energy services company. 

This collaboration is expected to boost Overcast's growth by leveraging Armstrong's extensive ceiling solutions portfolio and market reach. 

It also aims to broaden possibilities for bringing together Armstrong products with Overcast solutions, creating spaces that prioritise occupant well-being and construction efficiency. 

Armstrong has initiated a purchase agreement, making an initial equity investment of approximately 20% in Overcast, with options to increase its stake in the future.  

Overcast provides integrated building solutions such as modular grid platforms, prefabricated ceiling cloud systems, and engineering design services.  

These solutions are designed to reduce waste and inefficiencies in construction, addressing industry challenges such as skilled labour shortages and the need for energy-efficient materials.  

Overcast’s modular ceiling systems are designed to meet the complex installation requirements of modern building spaces. 

The company collaborates with architects to incorporate above-ceiling equipment into its factory-manufactured architectural ceiling solutions. 

This equipment ranges from mechanical heating, ventilation, and air conditioning to smoke detectors and more. 

AWI CEO president Vic Grizzle said: “Bringing together industry-leading Armstrong ceiling systems with Overcast’s pioneering, integrated modular ceiling design offers unique and sustainable solutions focused on key Indoor Environmental Quality (IEQ) areas of air quality, lighting, acoustics and thermal comfort along with energy and construction efficiency.  

“This is a great example of how collaboration within our industry can advance critical, sustainable solutions for the built environment.” 

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