VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations, Inc. (NYSE: PGTI), a national leader in premium windows and doors, including impact-resistant products and products designed to unify indoor/outdoor living spaces, today announced that it has completed its acquisition of a 75% ownership stake in Eco Window Systems and its related companies (collectively, “Eco”). Eco is a leading manufacturer and installer of aluminum, impact-resistant windows and doors serving the South Florida region.
“This acquisition further advances our strategy of expanding and diversifying our product lines with strong brands,” said Jeff Jackson, President and Chief Executive Officer of PGT Innovations. “We expect the Florida commercial market to continue its long-term growth trend and believe Eco will help PGT Innovations increase its sales and share in that segment. Additionally, we anticipate Eco’s glass manufacturing capabilities will allow us to vertically integrate a larger portion of our operations, by increasing our internal glass manufacturing capacity, which we believe will provide us with more flexibility within our supply chain to meet the growing demand for our products.”
“Eco’s dealer network is highly complementary to our existing footprint, as most of its dealers have not previously been customers of PGT Innovations, and we are excited about developing relationships with those new dealers,” added Jackson. “Over the years, Eco has been both a valued supplier and customer, and we welcome Eco and all its employees to the PGT family of brands.”
About PGT Innovations, Inc.
PGT Innovations manufactures and supplies premium windows and doors. Its highly-engineered and technically-advanced products can withstand some of the toughest weather conditions on earth and unify indoor/outdoor living spaces. PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves and a drive to develop category-defining products. PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors, holds the leadership position in its primary markets, and is part of the S&P SmallCap 400 Index.
The PGT Innovations’ family of brands include CGI®, PGT® Custom Windows & Doors, WinDoor®, Western Window Systems®, CGI Commercial®, Eze-Breeze® and NewSouth Window Solutions®. The Company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. The Company’s high-quality products are available in custom and standard sizes with multiple dimensions that allow for greater design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.
Forward-Looking Statements
Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements generally can be identified by the use of forward-looking terminology, such as “believe,” “expect,” “anticipate” and similar terminology. These risks and uncertainties include factors such as:
Statements in this press release that are forward-looking statements include, without limitation, our expectations regarding: (1) the benefits we expect from our acquisition of a 75% ownership stake in Eco, including advancing our strategy of expanding and diversifying our product lines with strong brands, increasing our glass manufacturing capacity so as to provide us with more operational flexibility, and providing us with relationships with new dealers to whom we have not previously sold our products; (2) future growth in the commercial market in Florida, and our ability to capture and increase sales and share in that market; and (3) demand for our products in future periods You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances from the date of this press release.
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PGT Innovations:
Investor Relations: Brad West, 941-480-1600 Senior Vice President and Interim Chief Financial Officer BWest@PGTInnovations.com
Media Relations: Stephanie Cz, 941-480-1600 Corporate Communications Manager
Source: PGT Innovations, Inc.