Posts Tagged ‘ Howard Heckes ’

And Just Like That: Masonite Goes From Buyer to Seller

Feb 12th, 2024

The pink panther is coming to doors. That was the news Friday, when Owens Corning, a roofing, insulation and composites manufacturer (that’s well-known for using the character in its marketing) announced a deal to acquire Masonite International Corp. The deal was announced weeks after PGT Innovations dismissed Masonite from its own acquisition, leaving Masonite to […]

PGTI Backs Out on Masonite for New $3.1 Billion Deal

Jan 17th, 2024

After a buyout turned merry-go-round for Venice, Florida-based PGT Innovations Inc., officials announced Wednesday they’ve reached a final deal with Miter Brands—more “final” than the deal they made with Masonite in December, it seems. Masonite issued a press release announcing the termination of its agreement to purchase PGTI, instead pocketing an $84 million fee. The […]

Masonite Tops Miter Brands to Acquire PGT Innovations

Dec 18th, 2023

Masonite edged out Miter Brands this week, as both companies jockeyed to acquire North Venice, Fla.-based PGT Innovations (PGTI). Masonite’s deal to acquire PGTI follows two rejected offers by Miter, including a $2.2 billion offer last week, Reuters reported. Masonite will acquire PGTI for a combination of cash and shares valued at $3.0 billion. Howard Heckes […]

Third-Quarter Results Show Challenges for Door and Window Companies

Nov 13th, 2023

Publicly traded door and window companies released their third-quarter financial results in recent weeks, showing mixed outcomes across net sales and income. PGT Innovations (PGTI) represented a bright spot, showing a year-over-year increase in net sales of 4% at $400 million. PGTI’s success comes as the company returned nearly $30 million of capital to its […]

Amid High Rates and Softer Housing, Industry Execs Show Confidence

Aug 28th, 2023

Chief executives for four leading door, window and hardware companies remain optimistic about demand for their companies’ products, despite what some describe as a “weak” housing market and sentiments about a possible economic slowdown. New home starts increased in July after declining in June, despite increases to interest rates that brought mortgage rates near a […]

Jeld-Wen, Masonite Optimistic About First-Quarter Results

May 11th, 2023

With the first fiscal quarter of 2023 in the books, financial reports are trickling in from door and window manufacturers, including Jeld-Wen and Masonite. Jeld-Wen CEO William Christensen reports “solid first quarter results” for the company, while Masonite reports results that were “ahead of expectations” despite a year-over-year decline from Q1 2022. For the first […]

Masonite International Completes Acquisition of Endura Products

Jan 5th, 2023

Masonite International Corp. recently announced that its acquisition of Endura Products, initially announced in November, is now complete. “We are excited to complete the acquisition of Endura and add their high-performance door frames and door system components to our product portfolio,” said Howard Heckes, president and CEO for Masonite. “The combination of our two companies […]

Jeld-Wen, Masonite Report Third Quarter Increases

Nov 8th, 2022

Third-quarter financial reports are rolling in and at least two major players in the door and window manufacturing industry are reporting similar, steady increases over last year’s third quarter. Jeld-Wen Holdings closed its third quarter on September 24 and dropped the report on Halloween. The company reports a 13% increase in net revenue, resulting in […]

Masonite International Corporation to Acquire Endura Products

Nov 3rd, 2022

This morning Masonite International Corporation announced that a wholly-owned subsidiary has entered into a definitive agreement to acquire the holding company of Endura Products, for approximately $375 million in cash. The transaction is subject to customary closing adjustments and regulatory approval. Endura is an innovator and manufacturer of high-performance door frames and door system components […]

Masonite to ‘Closely Monitor’ North American Residential Market After Q2 Results

Aug 9th, 2022

Masonite International Corporation reports a 15% increase in year-over-year net sales, from $662 million to $762 million, for the second quarter of 2022. With net income for the quarter recorded at $59 million, an increase of 67% from this time last year, president and CEO Howard Heckes called his company’s performance “solid.” According to Masonite, […]