PGT Innovations acquiring Western Window Systems
PGT Innovations is acquiring Western Window Systems in a $360 million deal.
The acquisition is expected to close in the third quarter of this year, resulting in combined company that is expected to generate sales of $706 million to $732 million. PGT is paying PWP Growth Equity, a private equity group of Perella Weinberg Partners, $360 million cash for the deal.
Based in Phoenix, Ariz., Western Window Systems has sales in 40 states and is expected to generate revenue of as much as $132 million this year. The company provides window and door systems designed for unifying indoor and outdoor living spaces.
Following the close of the transaction, Western Window Systems will become a wholly owned subsidiary of PGT Innovations, based in North Venice, Fla. PGT focuses on impact resistant and high performance door and window systems.
Western Window Systems will continue to operate and manufacture products as a separate brand within PGT Innovations. PGT Innovations will retain its headquarters in Florida, and the combined company will maintain manufacturing operations in Arizona.
“This transaction unites two highly complementary businesses to create a national leader in the premium window and door space, with an expanded product portfolio tailored to provide significant benefits for our collective customers,” said Jeff Jackson, president and CEO of PGT Innovations.
Strategically, PGT said this move is intended to advance PGT Innovations’ goal of developing a national platform for premium windows and doors by providing a strong presence outside of Florida. Also, by selling PGT Innovations’ existing brands alongside Western Window Systems’ products across an expanded geographic footprint, PGT Innovations expects to strengthen its brand recognition, the company said.
PGT also reported preliminary net sales of $169 million for the second quarter, up 23% from sales of $137 million in the second quarter 2017.
The acquisition is expected to close in the third quarter of this year, resulting in combined company that is expected to generate sales of $706 million to $732 million. PGT is paying PWP Growth Equity, a private equity group of Perella Weinberg Partners, $360 million cash for the deal.
Based in Phoenix, Ariz., Western Window Systems has sales in 40 states and is expected to generate revenue of as much as $132 million this year. The company provides window and door systems designed for unifying indoor and outdoor living spaces.
Following the close of the transaction, Western Window Systems will become a wholly owned subsidiary of PGT Innovations, based in North Venice, Fla. PGT focuses on impact resistant and high performance door and window systems.
Western Window Systems will continue to operate and manufacture products as a separate brand within PGT Innovations. PGT Innovations will retain its headquarters in Florida, and the combined company will maintain manufacturing operations in Arizona.
“This transaction unites two highly complementary businesses to create a national leader in the premium window and door space, with an expanded product portfolio tailored to provide significant benefits for our collective customers,” said Jeff Jackson, president and CEO of PGT Innovations.
Strategically, PGT said this move is intended to advance PGT Innovations’ goal of developing a national platform for premium windows and doors by providing a strong presence outside of Florida. Also, by selling PGT Innovations’ existing brands alongside Western Window Systems’ products across an expanded geographic footprint, PGT Innovations expects to strengthen its brand recognition, the company said.
PGT also reported preliminary net sales of $169 million for the second quarter, up 23% from sales of $137 million in the second quarter 2017.