From BUILDER sibling ProSales comes this news
PGT Innovations, the South Florida-based company best known for producing impact-resistant windows and doors, announced it will acquire Western Window Systems, an Arizona firm that makes glass walls, windows, and indoor/outdoor patio door systems.
PGT will spend $360 million in cash to acquire Western Window Systems from Perella Weinberg Partners, the company said in a July 24 news release. Together, the companies will have annual net sales of $706 to $732 million and adusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $135 million to $148 million, the press release said. That works out to an adjusted EBITDA margin of 19% to 20%.
Following the deal, Phoenix-based Western Window Systems will become a wholly owned subsidiary of PGT and will operate as a separate and distinct brand.
