OC - Building Materials Supplier Owens Corning Agrees To Buy Masonite In $3.9B Deal Expects $13B Revenue Boost | Benzinga
Friday, building and construction materials player Owens Corning Inc (NYSE:OC) agreed to acquire Masonite International Corporation (NYSE:DOOR) for $133.00 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on February 8.
The implied transaction value is approximately $3.9 billion, implying a purchase multiple of approximately 8.6x 2023E adjusted EBITDA2 or 6.8x when including synergies of $125 million.
Founded in 1925, Masonite designs, manufactures, and markets doors and door systems, with a vertically integrated manufacturing model serving both repair and remodel and new construction demand.
Masonite operates 64 manufacturing and distribution facilities, primarily in North America, with over 10,000 employees globally.
With the acquisition, Owens Corning’s revenue generated from North American residential applications ...