In a deal already previewed by Masco a little while ago, the US company has now confirmed that it has completed the sale of Milgard Windows & Doors to MI Windows and Doors LLC for $725m.
This is the statement MASCO have provided on their website:
Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, announced today the completion of the sale of Milgard Windows and Doors to MI Windows and Doors LLC for approximately $725 million.
This is what MI Windows and Doors LLC have said about their acquisition:
MI Windows and Doors finalized its acquisition of Milgard Windows & Doors from Masco Corporation today. The acquisition combines two leading brands in the residential window industry and positions MI to become the most well-known window business in America.
“MI and Milgard align culturally, complement each other’s strengths, and allow for geographic expansion of our already popular product lines,” said MI CEO Matt DeSoto. “Combining these two companies is great for everyone involved – our teams, our customers, our suppliers, and our local communities.”
Cultural Alignment
MI and Milgard share a similar culture defined by a hardworking, entrepreneurial spirit and more than 100 years of combined manufacturing experience and innovation. Both companies have grown considerably, but neither has lost the family-first values, window expertise, and customer focus that helped get them where they are today.
Complementary Strengths
Collectively, MI and Milgard are greater than the sum of their individual parts. As a highly recognized consumer brand that provides an industry-leading service experience, Milgard is a premium window and door manufacturer that focuses on the replacement and custom-home markets. Known for manufacturing throughput efficiency, MI has a reputation for consistently meeting the demands of the new construction and replacement window markets. As one, both companies are now equipped to better serve a more balanced and diversified customer portfolio.
Geographic Expansion
Milgard is the number one brand in the western U.S., while MI has been historically strong throughout the east and south. Their combined reach and unique customer bases will enhance market share, synchronize regional penetration, and enable complete coast-to-coast coverage for the residential window and door market.
“This is an exciting time for our businesses and our industry. We are excited to be joining the MI family and together we will achieve our Vision to become the most valuable brand in the fenestration industry,” said Milgard President Vishal Singh.
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About Masco
Masco Corporation is today one of the world’s largest manufacturers of brand- name products for the home improvement and new home construction markets.
Community involvement and good citizenship are important parts of the Masco corporate creed; and through its Foundation, the Company has demonstrated its commitment to a variety of arts, cultural and housing-based organizations, such as Habitat for Humanity, serving the communities in which its companies and employees reside.
About Milgard Windows & Doors
While many window companies are simply distributors of someone else’s products, Milgard is a vertically integrated window and patio door manufacturer. We make our own insulated glass units. We produce our own vinyl components. We make our own fiberglass frames. The Milgard vinyl plant, located in Tacoma, began extruding quality frame material in 1988. To ensure top quality from start to finish, Milgard begins by precisely controlling our vinyl compound formulation to withstand harsh climate conditions. We extrude our own frame material, and fabricate all vinyl windows and doors to order, giving us the tightest control over quality. Our fiberglass windows and doors receive the same level of attention. Almost all our frame materials are manufactured internally to provide the highest level of consistently high quality.
About MI Windows And Doors
MI Windows and Doors is one of the nation’s largest suppliers of vinyl and aluminum windows and patio doors. With plants across the country, MI offers a broad spectrum of products backed by exemplary customer service and quality.
With roots in a Florida airplane hangar, MI now manufactures on a national level. Following the lead of our visionary founders, we have maintained our most important values—good people and hard work.
For more than seventy years, we have been serving distributors, architects, builders, remodelers, and homeowners alike. Our hope is to continue providing quality products and grow into the most trusted manufacturer of “Best in Class” windows and doors.
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