PGT Innovations has signed an agreement to acquire Anlin Industries, also known as Anlin Windows & Doors, for a purchase price of approximately $126 million. Anlin Windows & Doors, headquartered in Clovis, California, is a western region brand in the vinyl replacement windows and doors market. Anlin Windows & Doors has also been ranked as a Top Manufacturer by Window + Door magazine for over 20 years.
“This transaction is an excellent opportunity to diversify and expand our market presence across the growing West Coast region,” says Jeff Jackson, president and CEO of PGT Innovations. “Anlin Windows & Doors is 90 percent focused on the vinyl remodel and replacement market while the focus of Western Window Systems - our other Western Business Unit brand - is mainly on new home construction with aluminum products. This acquisition will allow us to better serve both markets by providing a robust product platform under one umbrella. It is also a geographically-strategic addition to complement our western growth strategy.”
Anlin Windows & Doors will operate under the Western Business Unit of PGT Innovations. Anlin Windows & Doors’ CEO John Maloney will remain at the company in an advisory role with Mark Maloney assuming the role of vice president and general manager of Anlin Windows & Doors effective as of the closing of the transaction, which is expected to occur in early Q4.
“In order for us to continue to be the best of breed company that we have become, it was apparent to our leadership team that we had to align ourselves strategically with the resources and technology that PGT Innovations can offer,” says John Maloney. “To continue to lead in the market, this acquisition is a natural fit to associate ourselves with a great, national, leading-edge company in both the impact window and door market and the indoor-outdoor living market.”
“This is a tremendous opportunity for teams at both companies with a long lifespan for great growth potential,” says Jackson. “I am very excited to welcome Anlin’s 460-plus team members to our PGT Innovations’ family of brands.”
“One thing that stood out to our leadership team about PGT Innovations is their culture of putting people first. Primarily, the opportunities they provide for folks to promote from within and their tremendous benefits package from a human resources perspective. Their culture dovetails nicely with what we’ve done here at Anlin, and from that aspect, our philosophies are very much the same,” says John Maloney.
Anlin generated approximately $106 million in sales during the trailing 12 months ending in July 2021, with a mid-teen adjusted EBITDA. PGT Innovations paid approximately 8.5x pre-synergies and expects the transaction to be accretive. Additionally, PGT Innovations has committed senior secured financing to fund the transaction.
