MITER Brands completes PGT Innovations acquisition
MITER Brands, the manufacturer of residential windows and doors, has completed its acquisition PGT Innovations.
A manufacturer of engineered and technically advanced windows, PGT had originally entered into a $3 million agreement with Masonite last December.
But a month later, PGT called off the agreement and in favor of a $3.1 billion deal with MITER Brands.
And in February, Owens Corning revealed it would be acquiring Mastonite in a deal worth nearly $4 billion.
This acquisition combines two innovative and customer-focused companies. MITER Brands is known for its operational excellence and exceptional service while PGT Innovations employs impact-resistant technology and advanced manufacturing capabilities.
“Our journey has always been about more than just windows and doors; it’s about reframing what is possible and creating unmatched value for our team members, customers, supply partners, and local communities,” said Matt DeSoto, CEO of MITER Brands. “With PGT Innovations becoming part of our family of brands, we are excited to work together towards our vision of building the most valued window and door brand in America.”
The acquisition was financed in part by an equity investment from an affiliate of Koch Equity Development LLC (“KED”), an existing investor in MITER Brands.
Founded in 1947 and based in Harrisburg, Pennsylvania, MITER Brands is a combination of two fast-growing regional product brands: MI Windows and Doors and Milgard Windows and Doors.
PGT Innovations is based in North Venice, Florida and operates eight manufacturing locations totaling 2.2 million square feet. The company has approximately 5,500 employees and saw 2022 record sales of $1.49 billion, according to PGT’s 2023 fact sheet.
