Quick Take
PGT Innovations (PGTI) has announced the proposed acquisition of NewSouth Window Solutions for $92 million in cash.
NewSouth produces factory-direct energy efficient windows and doors in Florida and South Carolina.
With the deal, PGTI looks to be making a good strategic move across several diversification aspects, but PGTI’s stock appears fully valued at its current level, so my bias is NEUTRAL.
Target Company
Tampa, Florida-based NewSouth was founded to build and install a variety of window and door products for the Florida and South Caroline markets.The company has a total of