We are advising PGT Innovations on the transaction

Davis Polk is advising PGT Innovations, Inc. on its $3.0 billion acquisition by Masonite International Corporation. Under the terms of the agreement, PGT Innovations shareholders will receive $41.00 per each PGT Innovations share they own, comprised of $33.50 in cash and $7.50 in common shares of Masonite (based on closing prices as of December 15, 2023). The transaction is currently anticipated to close in the middle of 2024, subject to approval by the PGT Innovations shareholders, as well as the receipt of required regulatory approvals and satisfaction of other customary closing conditions.

PGT Innovations manufactures and supplies premium windows, doors and garage doors. Its highly engineered and technically advanced products can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.

Masonite International Corporation is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors, door system components and door systems for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets. Since 1925, Masonite has provided its customers with innovative products and superior service at compelling values.

The Davis Polk M&A team includes partners John D. Amorosi and Evan Rosen and associates Steven Jaffe and Jeff Wu. Partner Shane Tintle is providing corporate advice. Partner Kyoko Takahashi Lin and associate Chloe Wang are providing executive compensation advice. Partner Arthur J. Burke and associate Benjamin M. Miller are providing antitrust and competition advice. Partner Patrick E. Sigmon is providing tax advice. All members of the Davis Polk team are based in the New York office.

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