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.”
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.
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.
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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