M&A Deal Summary

PGT Innovations Acquires Western Window Systems

On July 24, 2018, PGT Innovations, Inc. acquired building materials company Western Window Systems from The Omnia Group, LLC, Eagle Private Capital LLC, ORIX Private Equity Solutions and GreyLion Capital LP for 360M USD

Acquisition Highlights
  • This is PGT Innovations’ 4th transaction in the Building Materials sector.
  • This is PGT Innovations’ 1st largest (disclosed) transaction.
  • This is PGT Innovations’ 4th transaction in the United States.
  • This is PGT Innovations’ 1st transaction in Arizona.

M&A Deal Summary

Date 2018-07-24
Target Western Window Systems
Sector Building Materials
Buyer(s) PGT Innovations, Inc.
Sellers(s) The Omnia Group, LLC
Eagle Private Capital LLC
ORIX Private Equity Solutions
GreyLion Capital LP
Deal Type Add-on Acquisition
Deal Value 360M USD
Advisor(s) Jefferies LLC (Financial)
Latham & Watkins (Legal)

Target

Western Window Systems

Phoenix, Arizona, United States
website
Western Window Systems is a manufacturer of high-end, warm weather, custom aluminum windows and doors made for luxury homes, hotels, and office buildings. Western Window Systems was founded in 1959 and is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

PGT Innovations, Inc.

North Venice, Florida, United States

website


Category Company
Founded 1980
SectorBuilding Materials
Employees3,500
Revenue 883M USD (2020)
DESCRIPTION

PGT Innovations is a manufacturer and supplier of impact-resistant windows and doors through its WinGuard-branded product line. PGT’s impact-resistant products combine aluminum or vinyl heavy-duty frames with laminated glass to provide protection from hurricane-force winds and windborne debris. PGT Innovations was founded in 1980 and is based in North Venice, Florida.


DEAL STATS #
Overall 4 of 7
Sector (Building Materials) 4 of 7
Type (Add-on Acquisition) 4 of 7
State (Arizona) 1 of 1
Country (United States) 4 of 7
Year (2018) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-16 WinDoor, Inc.

Orlando, Florida, United States

WinDoor, Inc. is a provider of high-performance, impact-resistant windows and doors for five-star resorts, luxury high-rise condominiums, hotels and custom residential homes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-10 NewSouth Window Solutions

Charleston, South Carolina, United States

NewSouth Window Solutions is a manufacturer and installer of high performance, energy-efficient replacement windows and doors made specifically for the Florida climate. NewSouth was formed in 2010 with factory showrooms in Tampa, Orlando, Sarasota, West Palm Beach, Ft. Lauderdale, and Jacksonville.

Buy -

Seller(S) 4

SELLER

The Omnia Group, LLC

Chesterfield, Missouri, United States

Investor

website


Category Private Equity Firm
Founded 2002
SizeSmall
Type Sector Agnostic
DESCRIPTION

The Omnia Group LLC is a private equity firm that targets lower middle-market companies throughout the Midwest, Southeast, Southwest, and Mountain regions of the US. The Firm seeks businesses recognized as market leaders with a history of profits, diverse customers, modern facilities, and strong management in place. Omnia generally looks to invest in niche-manufacturing, value-added distributions, and asset-based service companies with revenues of $10 to $30 million and EBITDA of $1 to $5 million. Specific sectors of interest include agriculture, building products, consumer goods, medical equipment, outsourced business providers, packaging, power sports equipment, recreation products, safety products, retail supply, and transportation. The Omnia Group is based in Chesterfield, Missouri.


DEAL STATS #
Overall 1 of 1
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Arizona) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-23 Mama Lola's Tortilla Co.

Phoenix, Arizona, United States

Mama Lola's Tortilla Co. produces corn and flour tortilla's in a variety of flavors, shapes, colors and sizes with the goal of producing the healthiest options at the lowest cost. Mama Lola's Tortilla was founded in 1987 and is based in Phoenix, Arizona.

Buy -
SELLER

Eagle Private Capital LLC

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
PE ASSETS 725M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Eagle Private Capital (EPC) makes private equity and mezzanine investments in middle-market companies. The Firm typically invests $4 to $15 million per investment. EPC looks to partner with management or other private equity investors to provide growth or change of control capital. EPC is based in St. Louis, Missouri.


DEAL STATS #
Overall 32 of 37
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 16 of 19
State (Arizona) 2 of 3
Country (United States) 32 of 37
Year (2018) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Boutique Brands LLC

Huntsville, Alabama, United States

Boutique Brands LLC is a platform for fast-fashion online women’s apparel retailers catering to distinct customer segments. Current brands include Discount Divas and Lime Lush. Boutique Brands is based in Huntsville, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-21 Itrac LLC

Eugene, Oregon, United States

ITRAC LLC is a provider of technology-enabled practice optimization solutions to dental practices across the United States, helping practitioners increase productivity, improve profitability, and drive revenue growth. The Company offers a comprehensive suite of services including website design and hosting, direct mail campaigns, pay-per-click advertising, reputation management, call tracking and analytics, and continuing education. Itrac was founded in 1995 and is based in Eugene, Oregon.

Buy -
SELLER

ORIX Private Equity Solutions

Investor

website


Category Mezzanine Finance Firm
PE ASSETS 600M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

ORIX Mezzanine & Private Equity is the direct investment arm of asset manager ORIX. ORIX Mezzanine & Private Equity looks to invest $10 to $20 million to support buyouts, acquisitions, growth capital needs, and sponsored led transactions of profitable (greater than $5 million of EBITDA) companies throughout North America. ORIX will consider a variety of investment structures, including subordinated and convertible debt to common, preferred and convertible preferred equity. ORIX Mezzanine & Private Equity is headquartered in Dallas, Texas.


DEAL STATS #
Overall 4 of 15
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 3 of 9
State (Arizona) 1 of 2
Country (United States) 3 of 13
Year (2018) 3 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-01 NXT Capital LLC

Chicago, Illinois, United States

NXT Capital LLC is a provider of structured financing to the U.S. middle market. Company has originated approximately $20 billion in total financing volume spread over 600+ transactions. With approximately $12 billion of committed capital at its disposal, NXT Capital provides a full range of structured financing solutions on a direct basis through its Corporate Finance and Real Estate Finance groups. NXT Capital manages capital for third parties through its asset management platform and offers investors proprietary access to primarily first lien senior secured loans that are not broadly traded or otherwise generally available without a loan origination platform. Investment offerings include levered and unlevered funds, separately managed accounts and CLOs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 FSC Lighting, Inc.

Rancho Cucamonga, California, United States

FSC Lighting, Inc. is an energy-efficient lighting manufacturer for industrial, commercial, and retail clients across the country. FSC provides lighting solution resulting in substantial cost savings and improving the visual appeal of merchandise to give an exceptionally improved shopper experience. FSC Lighting was founded in 1969 and is based in Rancho Cucamonga, California.

Buy -
SELLER

GreyLion Capital LP

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
PE ASSETS 1.4B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

PWP Growth Equity is a lower middle-market private equity investment group affiliated with asset management and advisory firm Perella Weinberg Partners. PWP primarily seeks opportunities throughout the US. Broad areas of interest include industrials, services, and consumer. The Firm looks to commit $25 to $100 million through a variety of transaction types, including buyouts, recapitalizations, divestitures, and growth capital financings. PWP Growth Equity was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 5
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Arizona) 1 of 1
Country (United States) 2 of 5
Year (2018) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-20 360training.com, Inc.

Austin, Texas, United States

360training.com, Inc. offering online training courses to serve the compliance needs of employees and companies in regulated industries. The Company has since grown to provide training solutions covering environmental health and safety, food and beverage, real estate, power and energy, industrial services, financial services, business skills, ethics, and healthcare. The Company’s offerings range from compressed, individual courses to comprehensive career training programs, and encompass general career advancement training in addition to regulatory-driven certifications. 360Training is headquartered in Austin, Texas and has additional offices in Karachi, Pakistan and Manila, Philippines.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-25 Build A Sign LLC

Austin, Texas, United States

BuildASign is an online provider of canvas wall décor, signage and other large format products. The Company's focus is making it easy and affordable for people to share their message or tell their story with custom and personalized products. BuildASign was formed in 2005 and is based in Austin, Texas.

Sell $280M