Headwaters acquires assets of Metals USA's roofing products business for $28M Headwaters announced it has acquired the assets of Metals USA's roofing products business Gerard. Gerard sells seven primary metal profiles, including classic tile, barrel vault, and canyon shake. This niche roofing product combines aesthetically pleasing profiles resembling tile, shake, or slate with a fire proof material and a low lifetime installed cost. The $28M transaction will be immediately accretive to earnings. Headwaters is funding the transaction with existing balance sheet cash, and expects its net debt to adjusted EBITDA ratio will increase slightly with the use of cash, but remains on track to achieve desired leverage ratio in 2015.