NCI completes Ply Gem acquisition
NCI Building Systems, Inc., the manufacturer of exterior building products for commercial construction, has completed its merger with Ply Gem Parent, LLC.
Based in Cary, N.C., Ply Gem manufactures manufacturers exterior building products for residential construction.
Under the terms of the merger agreement, Ply Gem shareholders received approximately 58.7 million shares of NCI common stock. NCI shareholders retained a 53% ownership of the company’s common equity with Ply Gem shareholders now owning 47%. Shares of NCI closed at $12.16 per share on Nov. 16 and were trading at $11.72 per share on Nov. 19.
“We are delighted to successfully complete our merger with Ply Gem today, furthering our strategy to be a market leading building products company,” NCI Chairman and CEO James Metcalf said. “This combination brings together industry leaders that will increase our scale, broaden our product offerings and expand our customer base. In addition, the new company will be a stronger, more diversified enterprise serving all channels of the construction markets – residential, repair & remodel, and commercial.
The new, combined company will operate under a name to be determined, and each entity will preserve its existing established brands, NCI said. Also, the new company will be headquartered in Cary, North Carolina, with a significant presence in Houston, Texas – the home of NCI.
Based in Cary, N.C., Ply Gem manufactures manufacturers exterior building products for residential construction.
Under the terms of the merger agreement, Ply Gem shareholders received approximately 58.7 million shares of NCI common stock. NCI shareholders retained a 53% ownership of the company’s common equity with Ply Gem shareholders now owning 47%. Shares of NCI closed at $12.16 per share on Nov. 16 and were trading at $11.72 per share on Nov. 19.
“We are delighted to successfully complete our merger with Ply Gem today, furthering our strategy to be a market leading building products company,” NCI Chairman and CEO James Metcalf said. “This combination brings together industry leaders that will increase our scale, broaden our product offerings and expand our customer base. In addition, the new company will be a stronger, more diversified enterprise serving all channels of the construction markets – residential, repair & remodel, and commercial.
The new, combined company will operate under a name to be determined, and each entity will preserve its existing established brands, NCI said. Also, the new company will be headquartered in Cary, North Carolina, with a significant presence in Houston, Texas – the home of NCI.