Tampa, Florida-based door manufacturer and distributor Masonite International Corporation announced Jan. 3 its acquisition of Endura Products, a manufacturer and distributor of door components based in Colfax, North Carolina.
The deal is worth approximately $375 million, according to a news release that first reported the agreement in November. A January news release stated that Masonite funded the acquisition using proceeds from the company’s recently announced $250 million senior secured term loan as well as a combination of borrowings on its asset-based revolving credit facility and cash on hand.
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Founded in 1954, Endura manufactures door products such as engineered frames, self-adjusting sill systems, weather sealing, multi-point locks and installation accessories. Endura operates four facilities across North Carolina, Texas and Oregon.
“I am very proud of the work we have done at Endura over the past seven decades to build a trusted brand, an amazing portfolio of innovative products, world-class manufacturing operations and a book of business based on tremendous customer relationships,” Endura president Bruce Procton said. “We have been partners with Masonite for more than 25 years, and I could not think of a better company to help take Endura into the next era. In combination with the resources and talent at Masonite we will be able to continue to provide the best possible products, service and support for existing customers while moving even faster to bring new door system solutions to market.”
Masonite plans to integrate Endura business into its North American Residential business segment, according to the November release. Procton and his leadership team will remain part of the business.
“We are excited to complete the acquisition of Endura and add their high-performance door frames and door system components to our product portfolio,” Masonite president and CEO Howard Heckes said. “The combination of our two companies is a natural fit, and we are eager to leverage the combined organization to develop innovative new door solutions that accelerate our Doors That Do MoreTM strategy and maximize our growth potential. We are thrilled to welcome the Endura team to the Masonite family.”
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