News & Events

Simpson Thacher is advising MITER Brands (“MITER”) in its financing for its proposed acquisition of PGT Innovations, Inc. (“PGT Innovations”) at a price of $42.00 per share in cash, for an enterprise value of $3.1 billion. MITER intends to fund the merger consideration with proceeds from new debt and equity financing. MITER has received $1.8 billion in commitments under a senior secured term loan facility and $325 million in commitments under a senior secured asset-based revolving credit facility. The transaction is currently anticipated to close in the middle of 2024, subject to approval by PGT Innovations’ shareholders, as well as the receipt of required regulatory approvals and satisfaction of other customary closing conditions.

MITER is a leading residential window and door manufacturer that produces a portfolio of window and door brands for new construction and replacement segments and a nationwide supplier of precision-built and energy-efficient products with more than 10 manufacturing facilities throughout the United States.

PGT Innovations manufactures and supplies premium windows, doors, and garage doors. Through its brands, PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market.

The Simpson Thacher team includes Jen Hobbs, Brian Steinhardt, Kyle Nelson and Sophie Skinner (Banking and Credit) and Hui Lin (Capital Markets).