PGTI - PGT Innovations acquires Martin Door for $185M

• PGT Innovations ( NYSE: PGTI ) has acquired Martin Door for a purchase price of ~$185M.
• Martin, manufacturer garage doors and is headquartered in Salt Lake City, UT.
• Martin will operate under the Western Division of PGT Innovations. Martin’s CEO Scott Huntsman will remain with the company and assume the role of President of Martin Doors.
• Martin is expected to generate sales of ~$60M expected in 2022.
• Expected to be immediately accretive to EBITDA margin, accretive to adjusted EPS within first year.
• Company entered into a new, five-year, $250M Revolving Credit Facility which will be utilized, along with cash on hand, to fund the transaction, as well as extend maturities and create more liquidity to support our continued growth.

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