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Announced

Completed

PGT Innovations completed the acquisition of NewSouth Window Solutions for $92m.

Financials

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Transaction Value£70m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Household Equipment and Products

Friendly

United States

Private

windows and doors

Majority

Single Bidder

Completed

Synopsis

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PGT Innovations, which manufactures and supplies premium windows and doors, completed the acquisition of NewSouth Window Solutions, a manufacturer and installer of factory-direct, energy-efficient windows and doors, for $92m. “This transaction is expected to support our diversification into growing segments in the window and door industry, by enabling us to enter the direct-to-consumer channel, where NewSouth is a market leader in Florida. NewSouth’s direct-to-consumer model is supported by its showrooms and in-home sales. With the addition of NewSouth, we expect to continue our strategy to grow in geographic areas outside of our core markets, with showroom openings planned for northern Florida and coastal states in the South. The acquisition is expected to provide PGT Innovations with the opportunity to serve a broader residential market segment, primarily driven by replacement projects, and relatively smaller order sizes that PGT Innovations’ strong dealer network typically does not target or serve,” Jeff Jackson, PGT Innovations President and CEO.

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