M&A · Industrials · Metal Doors, Sash, Frames, Moldings & Trim
Masonite International Corp to acquire PGT Innovations, Inc.
Announced Dec 18, 2023 · Terminated Jan 17, 2024
Deal value$3.00BEV $2.94B
Premium60.0%To unaffected price
EV / Adj. EBITDA11.1x2.0x EV / Revenue
ConsiderationCash and stock$41.00 per share
Transaction
- Acquirer
- Masonite International Corp
- Target
- PGT Innovations, Inc. (PGTI)
- Buyer type
- Strategic
- Offer price per share
- $41.00
- Enterprise value
- $2.94B
- Status
- Terminated Jan 17, 2024
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Jefferies
Advisors
- To the acquirer
- Jefferies
- To the target
- Evercore
Sector context · Industrials
- Comparable deals
- 78 in the prior 24 months
- Premium
- 60.0% vs. 47.1% sector median
- EV / Adj. EBITDA
- 11.1x vs. 10.8x sector median
- Break fee
- Sector median 2.9%
Timeline
- AnnouncedDec 18, 2023
- TerminatedJan 17, 2024