Bells of Acquisition Rang Through the HolidaysJanuary 4th, 2024 by Editor
While Masonite’s acquisition of PGT Innovations rang through the holidays (only to be reconsidered later, following another offer), it wasn’t the only company working a buy-out at the end of 2023. Cornerstone Building Brands picked up Eastern Architectural Systems (EAS). Two days after Cornerstone’s announcement, officials for Great Day Improvements LLC said their company is acquiring Florida-based Home Performance Alliance (HPA).
The acquisition of EAS expands Cornerstone’s impact-resistant product offerings, increases its presence in Florida, and strengthens the company’s ability to serve customers with a comprehensive portfolio of materials, products, and brands, officials said.
“EAS is an excellent strategic fit for Cornerstone Building Brands and advances our strategy to increase exposure to high-growth regions with value-add products,” said Rose Lee, president and CEO of Cornerstone Building Brands. “This acquisition complements our existing portfolio of impact-resistant products and enables a stronger presence in the rapidly growing Florida region.”
Cornerstone Building Brands expects the acquisition to be accretive.
With the addition of HPA, officials for Great Day Improvements said their company is expanding its family of brands via HPA’s channels in window replacement, bath remodels and high-performance roofing solutions.
“HPA is a perfect fit for our long-term growth goals, as they’ve helped homeowners with customized remodeling solutions for a decade. With Great Day Improvements built on a foundation of entrepreneurial spirit, they share our values and business model,” said Michael Hoy, CEO of Great Day Improvements. “This spirit continues to drive our growth and we are thrilled to partner with like-minded organizations like HPA.”
According to officials for Great Day Improvements, the company added more than 40 locations in 2023.
“HPA experienced incredible growth in its first decade, and I couldn’t be prouder to be a part of that success and of the incredible team we have at HPA,” said Gary Delia, CEO and founder of HPA. “I’m excited about what the future holds as we embark on this new partnership with Great Day Improvements and work to help even more homeowners meet their remodeling goals.”
Delia will be collaborating closely with the Great Day Improvements leadership team, reporting to Michael Hoy and providing strategic direction and insight as HPA joins the Great Day organization. Carolyn Resar, executive vice president of integration at Great Day Improvements, will oversee the onboarding of HPA, reporting to Drew Weinfurtner, president and COO.