PGT to Acquire CGI Windows & Doors Holdings

Strengthens leadership position in growing impact-resistant window and door market.

July 29, 2014

PGT Inc. entered into a definitive agreement with CGI Windows & Doors Holdings pursuant to which CGI will become a wholly owned subsidiary of PGT. The transaction, valued at approximately $111 million, is consistent with PGT's plan to grow strategically while contributing to earnings growth through targeted acquisitions of complementary specialty products. The acquisition is expected to be accretive in 2015.

The transaction will combine two successful companies committed to serving impact-resistant window and door industry. The acquisition is expected to:

  • Enhance PGT's leadership position in the growing impact-resistant window and door industry
  • Strengthen the Company's ability to compete against national suppliers and other storm protection systems
  • Diversify and broaden PGT's brand portfolio, including the addition of impact-resistant entry doors
  • Create synergies by maximizing efficiencies and scale including purchasing and logistics
  • Broaden manufacturing footprint and capabilities

Subject to customary closing conditions, the transaction is expected to close in September. Deutsche Bank and Keybanc NA have committed to providing a long-term debt facility of $235 million which, together with cash on hand, will be used to consummate the acquisition, repay existing indebtedness and for general corporate purposes. PR

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