Armstrong World Industries, Inc. (NYSE:AWI) entered into an agreement to acquire Tectum Inc. for $31.4 million on December 15, 2016. The transaction is financed through available cash on hand of Armstrong. The transaction is subject to customary closing conditions and is expected to close in early 2017. Western Reserve Partners LLC acted as financial advisor to Tectum Inc. Armstrong World Industries, Inc. (NYSE:AWI) completed the acquisition of Tectum Inc. on January 13, 2017.