Cornerstone Building Brands acquires Cascade Windows for $245 million
The deal is part of Cornerstone's strategy to grow in the residential windows market.
Exterior building products maker Cornerstone Building Brands Inc. is acquiring Spokane Valley, Wash.-based vinyl window and door manufacturer Cascade Windows for US$245 million.
Headquartered in Spokane Valley, Wash., Cascade has approximately 800 employees at six manufacturing and three distribution locations across the West and Pacific Northwest.
“Cascade is an excellent strategic fit for our company and advances our strategy to grow in the large, deep residential windows market,” said Cornerstone’s chairman and CEO James S. Metcalf. “Additionally, the acquisition expands our manufacturing presence across the rapidly growing west coast region and enhances our tailored solutions offering for our customers.”
Cascade generated approximately US$160 million in sales during the trailing twelve months ended May 2021.
The transaction is expected to be funded with cash on hand and close in the third quarter of 2021.
Headquartered in Cary, N.C., Cornerstone is said to be the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America.