PGT Innovations, Inc. (NYSE:PGTI) entered into an agreement to acquire Martin Door Manufacturing, Inc. for approximately $190 million on October 14, 2022. PGT Innovations entered into a new, five-year, $250 million Revolving Credit Facility which will be utilized, along with cash on hand, to fund the transaction. Martin will operate under the Western Division of PGT Innovations. Martin's CEO Scott Huntsman will remain with the company and assume the role of President of Martin Doors.173 Martin team members will join PGT Innovations team. PGT Innovations expects the transaction to be immediately accretive to EBITDA margin, accretive to adjusted EPS within first year. Deutsche Bank Securities Inc. is serving as financial advisor and Evan Rosen, Shane Tintle, Kyoko Takahashi Lin, J.W. Perry , Robert F. Smith Davis, Frank J. Azzopardi and Patrick E. Sigmon of Davis Polk & Wardwell LLP is serving as legal counsel to PGT Innovations. KeyBanc Capital Markets Inc. is serving as financial advisor and Michael Best & Friedrich LLP is serving as legal counsel to Martin Door. Stoel Rives LLP acted ad legal advisor to Martin Door Manufacturing, Inc.

PGT Innovations, Inc. (NYSE:PGTI) completed the acquisition of Martin Door Manufacturing, Inc. on October 17, 2022.