Cornerstone Building Brands, Inc. (NYSE:CNR) agreed to acquire Cascade Windows, Inc. from CenterOak Equity Fund I, L.P. managed by CenterOak Partners LLC for approximately $250 million on July 30, 2021. The consideration is paid in cash. The deal is expected to be funded with cash on hand. Cascade generated approximately $160 million in sales during the trailing twelve months ended May 2021. Cascade team will join Cornerstone Building Brands. The acquisition expands Cornerstone Building Brands manufacturing presence across the rapidly growing West Coast region. The transaction is subject to regulatory approval and customary closing conditions. The acquisition is expected to close in the third quarter of 2021. Cornerstone Building Brands expects the transaction to be accretive through purchasing and manufacturing optimization synergies, margin expansion and revenue growth opportunities. Robert Little, Krista Hanvey and Joshua Lipton of Gibson, Dunn & Crutcher LLP acted as legal advisor to CenterOak Partners LLC. Sullivan & Cromwell LLP acted as a legal advisor to Cornerstone Building Brands, Inc. J.R. Doolos of KeyBanc Capital Markets Inc. served as the exclusive financial advisor to Cascade in connection with the transaction.
Cornerstone Building Brands, Inc. (NYSE:CNR) completed the acquisition of Cascade Windows, Inc. from CenterOak Equity Fund I, L.P. managed by CenterOak Partners LLC on August 20, 2021