Posts Tagged ‘ Masonite ’

Miter Brands Completes Acquisition of PGT Innovations

Mar 28th, 2024

Miter Brands, parent company to MI Windows and Doors and Milgard Windows and Doors, announced today the successful completion of its acquisition of PGT Innovations (PGTI).

In Vegas, Anyone Can Leave the International Builders’ Show a New Winner

Feb 29th, 2024

“It can be a little overwhelming.” “These things are just so massive.” “You could get lost in here.” Those are just a few of the comments made by attendees of the International Builders’ Show, while traversing Hall C’s towering door and window exhibits. Amid the hustle and bustle of what feels like an indoor city, […]

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 […]

Bells of Acquisition Rang Through the Holidays

Jan 4th, 2024

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 […]

PGTI Buyout Turns to Saga as Board Weighs Another Deal

Jan 3rd, 2024

A string of offers has turned a deal to acquire Venice, Fla.-based PGT Innovations Inc. (PGTI) into a saga, after an old suitor returned with a bigger check in hand. In October 2023, Miter Brands (MI Windows and Doors, Milgard Windows and Doors) tendered an offer for $1.9 billion, at $33 per share. When PGTI […]

Execs Answer Key Questions About the Masonite/PGTI Deal

Dec 21st, 2023

– Is the acquisition a culmination of long-term plans? – Will Masonite become a window company? – Will the company expand PGTI’s direct-to-consumer model? – What about PGTI’s new endeavor: Diamond Glass? – What happens with PGTI’s brands? Masonite announced this week it will acquire North Venice, Fla.-based PGT Innovations (PGTI). The $3 billion deal […]

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 […]

Builders FirstSource Raises Over $1.2 Million for Leukemia & Lymphoma Society

Jun 8th, 2023

Builders FirstSource Inc. recently announced that its annual Swing for the Cure golf charity event raised more than $1.2 million for The Leukemia & Lymphoma Society (LLS). Officials said the total marks a new record for the event and underscores the company’s commitment to supporting the fight against blood cancer. Among this year’s event sponsors […]