Masonite announced its U.S. subsidiary acquired Fleetwood Aluminum Products for $285 million in cash. The acquired company is a designer and manufacturer of premium, aluminum-framed glass and window solutions for luxury homes.
Corona, Calif.-based Fleetwood Aluminum Products has a portfolio which includes multi-slide and pocket glass patio doors, pivot and hinged glass entry doors, and folding glass door wall systems, as well as accompanying premium window products.
Masonite said the company also hosts in-house design, engineering, and testing capabilities and holds several patents and trademarks for products with energy-saving and weather-resistant features.
“Fleetwood has an outstanding reputation for product leadership, manufacturing excellence, and modern designs for luxury residential applications,” Howard Heckes, president and CEO of Masonite, said in a news release. “Their stunning door and window systems create a blend of indoor/outdoor living, showcasing natural light, style, security, and energy efficiency, while adding exceptional beauty and flexibility to the home.”
Fleetwood operates a 200,000 square foot manufacturing facility with approximately 350 total employees. The company’s products are sold through a network of over 200 exclusive dealers that partner with home builders and architects.
Masonite projects Fleetwood Aluminum Products will contribute approximately $150 million of incremental full-year revenue to Masonite in 2024.
“Our companies share a common focus on improving life and living for homeowners, and we are thrilled to welcome the Fleetwood employees and partners into the Masonite family,” Heckes said. “This is the second acquisition we have completed in 2023 as part of our Doors That Do More strategy to expand our product portfolio and address new and non-traditional segments of the market with innovative and differentiated door systems.”
Masonite plans to operate Fleetwood Aluminum Products as an independent business unit within its North American Residential business segment.