Griffon is a holding company with two distinct businesses: garage doors and branded consumer tools and home products. The garage door business, Home and Building Products (HBP), operates through Clopay, North America's largest manufacturer of residential and commercial garage doors. Clopay sells residential sectional doors across multiple materials and price points under the Clopay, Ideal, and Holmes brands, and commercial rolling steel doors, fire doors, and security products under the Cornell and Cookson brands. Clopay distributes through 57 U.S. and Canadian distribution centers and sells through over 3,000 independent installing dealers, plus exclusive supply relationships with Home Depot and Menards. HBP generates roughly 85% of total segment EBITDA despite representing only about 60% of revenue, with EBITDA margins around 31%. The Consumer and Professional Products (CPP) segment sells branded tools, fans, and home storage products — including AMES, True Temper, Hunter, and ClosetMaid — through home centers, mass retailers, and e-commerce globally. CPP is transitioning from in-house U.S. manufacturing to an asset-light global sourcing model, having closed eight facilities and reduced its footprint by 1.2M square feet, targeting 15% EBITDA margins from the current 7-8%. On capital allocation, Griffon has repurchased over $538M in stock since April 2023 and has paid 56 consecutive quarterly dividends, growing the dividend at an 18%+ annualized rate since 2012.