Simpson Thacher is advising Masonite International Corporation (“Masonite”) in its acquisition financing relating to a wholly owned subsidiary’s acquisition of the holding company of Endura Products (“Endura”), for approximately $375 million in cash, subject to customary closing adjustments and regulatory approval. The acquisition will be funded with a combination of cash on hand, borrowings under Masonite’s newly upsized ABL credit facility and a new senior secured term loan.
Masonite is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors and door systems for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets.
Endura is a leading innovator and manufacturer of high-performance door frames and door system components. The company’s product offerings include engineered frames, self-adjusting sill systems, weather sealing, multi-point locks and installation accessories used by builders and contractors in residential new construction as well as repair and remodeling applications.
The Simpson Thacher team includes Eli Isak, Kyle Nelson and Daniel Westen (Banking and Credit); Joe Kaufman and Brandon Adoni (Capital Markets); Michael Mann (Tax); Ryan Stott and Guanxiong Xu (ECEB); Jessica Cohen and Courtney Welshimer (IP); and Tim Gallagher (Real Estate).