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ELECTRONICALLY REPRINTED FROM MAY/JUNE 2024

Masonite International Acquired
Fleetwood Aluminum Products

Tampa, Fla.-based doormaker Masonite InternationalCorp.’s acquisition of Fleetwood Aluminum Products broadened its product lineup and allowed it to enter new mar-A Mergers & Acquisitions
2024 Deal of the Year
{ Manufacturing }kets. The $285 million transaction was funded with a combinationof cash on hand and borrowings under Masonite’s credit facility.
Masonite anticipates that Fleetwood will generate revenue ofaround $150 million in 2024.

Family-Owned BusinessA family-owned business since 1961, Fleetwood designs andmanufacturers aluminum-framed glass door and window
products for luxury homes. The acquisition extends the Corona,
Calif.-based company’s strong regional presence from primarily
the West Coast into other geographies through Masonite’s global
customer reach.

ACQUIRED

The acquisition of Fleetwood aligns with Masonite’s strategy tobroaden its presence in the doors and windows manufacturingindustry by venturing into new segments. With the acquisition,
Masonite gains access to a network of Fleetwood’s more than
200 exclusive dealers that partner with homebuilders andarchitects. Under the deal, Fleetwood operates as an independent

On October 19, 2023
Advisors included Kroll’s Investment Banking,
Holland & Knight, Greenberg Traurig

business unit within Masonite’s North American residential
business segment.

Residential Construction Outlook
Economic uncertainty and increased financing costs weighedheavily on the outlook for residential construction throughout

2023. The M&A team at Kroll’s Investment Banking Practice, the investment bank advising
Fleetwood, believed strongly in the differentiated nature of Fleetwood’s products. Despite
the economic uncertainty, Fleetwood’s strong reputation and brand captured stronglevels of interest from strategics in the sector that are focused on deploying capital with along-term perspective throughout the home building cycle.

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Posted with permission from the May/June 2024 issue of Mergers & Acquisitions. Copyright 2024. All rights reserved.
For more information on the use of this content, contact Wright’s Media at 877-652-5295.
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