Masonite International Corporation Completes Acquisition of Endura Products
Masonite International Corporation (“Masonite” or “the Company) today announced the completion of its acquisition of Endura Products (“Endura”).
“We are excited to complete the acquisition of Endura and add their high-performance door frames and door system components to our product portfolio,” said Howard Heckes, President and CEO, Masonite. “The combination of our two companies is a natural fit, and we are eager to leverage the combined organization to develop innovative new door solutions that accelerate our Doors That Do MoreTM strategy and maximize our growth potential. We are thrilled to welcome the Endura team to the Masonite family.”
The acquisition purchase price was funded using proceeds from the Company’s recently announced $250 million senior secured term loan as well as a combination of borrowings on its asset-based revolving credit facility and cash on hand.
Wachtell, Lipton, Rosen & Katz is serving as legal counsel for Masonite in connection with the transaction and Simpson Thacher & Bartlett LLP is serving as financing counsel for Masonite.
Masonite International Corporation (NYSE: DOOR) is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors 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. Masonite currently serves more than 7,000 customers globally. Additional information about Masonite can be found at www.masonite.com.
Richard Leland – Vice President, Finance and Treasurer – firstname.lastname@example.org – (813) 739-1808
Source: Masonite International Corporation