Local Manufacturer to Acquire California Company for $ 126 Million | Business Observer
VENICE – PGT Innovations has announced that it has signed an agreement to acquire Anlin Industries, also known as Anlin Windows & Doors, for approximately $ 126 million.
Venice-based PGT, a national leader in premium windows and doors, including impact-resistant products and products designed to unify interior / exterior spaces, made the announcement last week.
“This transaction is a great opportunity to diversify and expand our market presence in the growing West Coast region,” said Jeff Jackson, President and CEO of PGT Innovations, in a press release. . “This acquisition will allow us to better serve both markets by providing a robust product platform under one roof. It is also a geographically strategic addition to complement our growth strategy in the West. “
Anlin Windows & Doors is headquartered in Clovis, California, and is a recognized Western region brand in the vinyl replacement window and door market. Jackson also noted in the statement that Anlin is 90% focused on the vinyl renovation and replacement market. The remainder of the corporate focus of Western Window Systems, the brand of PGT’s Western business unit, remains on building new homes with aluminum products.
“In order for us to continue to be the best company we have become, it was evident to our leadership team that we needed to strategically align ourselves with the resources and technology that PGT Innovations can offer,” said John Maloney, CEO of ‘Anlin Windows & Doors, in the press release. “To continue to dominate the market, this acquisition is a natural fit for us to partner with a large, leading national company in both the impact door and window market and the indoor and outdoor living market. “
Anlin Windows & Doors will operate under the Western Business Unit of PGT Innovations. Maloney will remain with the company in an advisory capacity, with Mark Maloney assuming the role of Anlin’s vice president and general manager upon closing of the transaction, which is expected to take place early in the fourth quarter.
“This is a tremendous opportunity for teams from both companies with a long lifespan for great growth potential,” says Jackson. “I am very pleased to welcome the more than 460 Anlin team members to the PGT Innovations family of brands. “
According to the statement, the culture of PGT Innovations was what marked Anlin’s leadership.
“One thing that stood out for our leadership team about PGT Innovations is their culture of putting people first,” said John Maloney. “Mainly, the opportunities they give people to promote from within and their huge human resource benefits. Their culture harmonizes well with what we did here in Anlin, and from that aspect, our philosophies are very similar ”,
Anlin generated approximately $ 106 million in revenue over the past twelve months ending July 2021, with mid-teens adjusted EBITDA. PGT Innovations paid approximately 8.5 times the pre-synergies and expects the transaction to be profitable. In addition, PGT Innovations has committed to securing senior secured financing to fund the transaction.