M&A Deal Summary

JLL Partners Acquires PGT Innovations

On January 30, 2004, private equity firm JLL Partners acquired building materials company PGT Innovations from Linsalata Capital Partners

Acquisition Highlights
  • This is JLL Partners’ 1st transaction in the Building Materials sector.
  • This is JLL Partners’ 6th transaction in the United States.
  • This is JLL Partners’ 1st transaction in Florida.
Investment Fate
  • PGT Innovations went public in 2006.

M&A Deal Summary

Date 2004-01-30
Target PGT Innovations
Sector Building Materials
Buyer(s) JLL Partners
Sellers(s) Linsalata Capital Partners
Deal Type Recapitalization

Target

PGT Innovations

North Venice, Florida, United States
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.

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Buyer(S) 1

Buyer

JLL Partners

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

JLL Partners, Inc. is a private equity investment firm that invests alongside management in middle-market companies. JLL prefers control investments in sectors such as healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution. In addition to traditional buyout transaction, JLL also seeks distressed/turnaround situations. JLL Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 6 of 40
Sector (Building Materials) 1 of 3
Type (Recapitalization) 1 of 2
State (Florida) 1 of 2
Country (United States) 6 of 38
Year (2004) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-08 Mosaic Sales Solutions

Irving, Texas, United States

Mosaic Sales Solutions Corp. is the North American leader in providing outsourced sales and marketing solutions at the point-of-purchase for global branded consumer products and services companies such as Disney, Epson, Microsoft, American Express, Procter & Gamble, MBNA and LaBatt, as well as for “big box” retailers such as Best Buy, Wal-Mart and K-Mart. Mosaic leverages its nationwide network of 10,000 sales and marketing personnel in the field to create sales solutions that are more efficient than what most companies could achieve in-house. These representatives provide three general types of sales and marketing services to Mosaic’s consumer products and retail customers: merchandising (62% of revenues), selling (30% of revenues) and event marketing (8% of revenues).

Buy CA$105M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-22 IASIS Healthcare

Franklin, Tennessee, United States

IASIS Healthcare Corp. is an owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. Additionally, IASIS owns and operates a Medicaid managed health plan in Phoenix that serves over 108,000 members. IASIS Healthcare was formed in 1998 and is based in Franklin, Tennessee.

Sell $1.4B

Seller(S) 1

SELLER

Linsalata Capital Partners

Mayfield Heights, Ohio, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Linsalata Capital Partners is a middle-market buyout firm that targets equity investments in businesses operating in a broad range of industries. Linsalata looks to invest $15 to $50 million in businesses generating at least $5 million in EBITDA. The Firm will consider transactions valued up to $300 million. Target sectors include automotive aftermarket products, building products, business services, aerospace, commercial durables, consumer packaged goods, contract manufacturing services, direct marketing, education, ethnic products, food and beverage, food service equipment, health and safety products, healthcare services and outsourcing, hobby/crafts, home furnishing, home improvement products, industrial products, infastructure products, leisure/recreation, logistics, medical devices and diagnostics, niche apparel, outdoor/garden living, packaging, personal services, pet products and services, and plastics. Linsalata Capital was formed in 1984 and is based in Mayfield Heights, Ohio.


DEAL STATS #
Overall 9 of 41
Sector (Building Materials) 2 of 7
Type (Recapitalization) 3 of 3
State (Florida) 1 of 1
Country (United States) 9 of 41
Year (2004) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Alenco Building Products

Bryan, Texas, United States

Alenco Building Products, Inc. (Alenco Windows) is a manufacturer of residential aluminum and vinyl windows and doors serving primarily new construction markets in the southeastern and southwestern U.S. Headquartered in Bryan, Texas, Alenco has manufacturing facilities located in Texas and Georgia providing high service levels to its core customers in those regions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-30 U-Line

Milwaukee, Wisconsin, United States

U-Line Corp. is a manufacturer of branded, undercounter ice making and refrigeration appliances sold through a national network of wholesale distributors which in turn sell to high-end residential and commercial appliance dealers and retailers.

Buy -