Ply Gem buys fabricator Gienow WinDoor

By Bill Bregar
Senior Staff Reporter

Published: July 24, 2013 11:47 am ET
Updated: July 24, 2013 3:58 pm ET

Related to this story

Topics Construction, Mergers & Acquisitions, Pipe/Profile/Tubing, Extrusion, Vinyl siding, Windows & doors

Plastic construction products maker Ply Gem Holdings Inc. moved to beef up its manufacturing in Canada before its initial May 23 initial public offering on the New York Stock Exchange.

Ply Gem bought Canadian window and door fabricator Geinow WindDoor Ltd. on April 9, disclosing the deal in a prospectus for the IPO. Gienow WinDoor runs a plant in Calgary Alberta, to serve western Canada. Ply Gem paid about C$21 million (US$20 million), according to the prospectus.

Ply Gem, a manufacturer of vinyl windows and doors, siding, fencing and cellular PVC trim and molding, set its IPO price at $21 per share. The stock, traded under the symbol PGEM, hit a high of $23.5 in mid-June before settling to about $20 in late July.

Ply Gem made another big Canadian acquisition, when it agreed to buy vinyl siding maker Mitten Inc. of Paris, Ontario, from Graham Partners Inc. That agreement was made May 6, the Ply Gem prospectus said. But it was not publicly announced until June 4.

Ply Gem paid about C$82 million (US$79 million) for Mitten, according to the prospectus.

In the prospectus, Ply Gem officials said they will use proceeds from the IPO to repurchase senior secured notes, repay an asset-based revolving line of credit and pay for the Mitten acquisition and other general corporate expenses.


Comments

Ply Gem buys fabricator Gienow WinDoor

By Bill Bregar
Senior Staff Reporter

Published: July 24, 2013 11:47 am ET
Updated: July 24, 2013 3:58 pm ET

Post Your Comments


Back to story


More stories

Image

Coveris sees 'common culture' form after mergers, acquisitions

March 3, 2015 11:37 am ET

Coveris Holdings Corp. is a mega-rollup in packaging, a major international player, said Robert Larson, president of Coveris' Food and Consumer North ...    More

Image

Bayer expands with acquisition of Germany's Thermoplast Composite

March 3, 2015 10:59 am ET

Bayer AG's Bayer MaterialScience LLC has bought composite materials specialist Thermoplast Composite GmbH based near Nuremberg, Germany.    More

Image

Almost half of mid-market firms say they are looking to buy competitors

March 2, 2015 3:52 pm ET

There are steps that plastics business owners can take to keep the mergers and acquisitions parade rolling into 2015.    More

Image

Ukrainian crises eats into plans for building materials firm Masterplast

March 2, 2015 10:03 am ET

Hungarian building materials manufacturer Masterplast Nyrt. saw its earnings fall in 2014 after the worsening Ukraine crisis forced it to write off...    More

Image

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

UPDATED — German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events