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home / news releases / PGTI - PGT Innovations to buy 75% stake in Eco Window for $108M

PGTI - PGT Innovations to buy 75% stake in Eco Window for $108M

PGT Innovations Inc.
Eco Window is a manufacturer and installer of aluminum, impact-resistant windows and doors serving the South Florida region.The purchase price of $108M is comprised of $100M cash and $8M of PGT Innovations' (PGTI) common stock.PGTI to finance the transaction with cash on hand and existing or additional financing arrangements.The Company expects its net leverage ratio at closing to be ~2.7x and the transaction to be completed by Jan. 31, 2021.PGTI retains an exclusive option to buy the remaining 25% of Eco beginning on the second anniversary of the closing of its purchase.Jeff Jackson, CEO of PGT Innovations: “This transaction results in vertically integrated manufacturing capabilities, which strengthens our supply chain for glass and is expected to enable faster production".Press Release

For further details see:

PGT Innovations to buy 75% stake in Eco Window for $108M
Stock Information
Company Name: PGT Innovations Inc.
Stock Symbol: PGTI
Market: NYSE
Website: pgtinnovations.com
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