Cornerstone Building Brands Inc. reached an agreement to acquire Cascade Windows for a cash purchase price of $245 million. Cascade is an independent manufacturer of energy-efficient vinyl windows and doors serving the residential new construction and repair and remodel markets. Headquartered in Spokane Valley, Washington, 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,” says James S. Metcalf, Cornerstone's chairman and CEO. “Additionally, the acquisition expands our manufacturing presence across the rapidly growing west coast region and enhances our tailored solutions offering for our customers. I look forward to welcoming our new teammates from Cascade to the Cornerstone Building Brands family.”
Cornerstone Building Brands expects the transaction to be accretive through purchasing and manufacturing optimization synergies, margin expansion and revenue growth opportunities. Cascade generated approximately $160 million in sales during the trailing 12 months ended May 2021. The transaction, subject to regulatory approval and customary closing conditions, is expected to be funded with cash on hand and close in the third quarter of 2021.
