PGT Innovations Acquires Anlin Windows & Doors For $126M

PGT Innovations Inc PGTI agreed to acquire Anlin Industries, also known as Anlin Windows & Doors, for a purchase price of ~$126 million.
The Clovis, California-based Anlin, a brand for vinyl windows and doors in the remodel and replacement market, will operate under the Western Business Unit of PGT Innovations.
Anlin generated ~$106 million in sales during the trailing twelve months ending in July 2021, with a mid-teen adjusted EBITDA.
PGT Innovations paid approximately 8.5x pre-synergies and expects the purchase to be accretive.
Anlin CEO John Maloney will remain at the company in an advisory role, with Mark Maloney assuming the position of VP and General Manager of Anlin effective as the transaction close, which is expected to occur in early Q4.
PGT Innovations has committed senior secured financing to fund the deal. It held cash and cash equivalents of $47.59 million as of July 3, 2021.
Price Action: PGTI shares are trading higher by 2.48% at $21.72 on the last check Thursday.