{"id":761637,"date":"2023-06-05T12:03:11","date_gmt":"2023-06-05T16:03:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pgt-innovations-announces-100-ownership-stake-in-eco-enterprises-llc\/"},"modified":"2023-06-05T12:03:11","modified_gmt":"2023-06-05T16:03:11","slug":"pgt-innovations-announces-100-ownership-stake-in-eco-enterprises-llc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pgt-innovations-announces-100-ownership-stake-in-eco-enterprises-llc\/","title":{"rendered":"PGT Innovations Announces 100% Ownership Stake in Eco Enterprises, LLC"},"content":{"rendered":"

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PGT Innovations Announces 100% Ownership Stake in Eco Enterprises, LLC<\/b><\/p>\n

NORTH VENICE, Fla.–(BUSINESS WIRE<\/a>)–PGT Innovations<\/a> (NYSE: PGTI), a national leader in the premium window, door, and garage door industry, today announced that it has acquired the remaining outstanding 25% ownership interest in Eco Enterprises, LLC (\u201cEco\u201d).<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230605005670\/en\/<\/a><\/p>\n

\"Exterior<\/p>\n

Exterior of Eco Enterprises, LLC (Photo: Business Wire)<\/p>\n<\/div>\n

\nEco is a leading brand of aluminum, impact-resistant windows and doors primarily serving the south Florida region, with manufacturing and glass processing facilities in Miami, FL.<\/p>\n

\nPGT Innovations first acquired 75% ownership stake in Eco in 2021 to accelerate revenue growth, expand margins, and strengthen supply chain by adding glass production capacity, while diversifying and bolstering product lines to provide opportunities in residential and commercial markets.<\/p>\n

\n\u201cSince acquiring ownership in Eco, we\u2019ve been able to utilize this vertical integration to service the glass needs for some of our other brands,\u201d said Jeff Jackson, PGT Innovations President and CEO. \u201cWe\u2019re very excited to reach the finalization of this purchase as it will allow us to further serve high growth markets in which we operate.\u201d<\/p>\n

\nPGT Innovations is committed to the strategy of expanding its family of brands, transforming manufacturing operations, and growing in desirable markets and geographies. Over the last several years, the company has acquired Western Window Systems<\/a>, NewSouth Window Solutions<\/a>, Anlin Windows & Doors<\/a>, and Martin Door<\/a>.<\/p>\n

About PGT Innovations, Inc.<\/b><\/p>\n

\nPGT Innovations manufactures and supplies premium windows, doors, and garage doors. Its highly engineered and technically advanced products can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.<\/p>\n

\nPGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. Through its brands, PGT Innovations is also the nation\u2019s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market.<\/p>\n

\nThe PGT Innovations\u2019 family of brands include CGI\u00ae<\/sup><\/a>, PGT\u00ae<\/sup> Custom Windows and Doors<\/a>, WinDoor\u00ae<\/sup><\/a>, Western Window Systems<\/a>, Anlin Windows & Doors<\/a>, Eze-Breeze\u00ae<\/sup><\/a>, Eco Window Systems<\/a>, NewSouth Window Solutions<\/a>, and Martin Door<\/a>. The company\u2019s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com<\/a>.<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains \u201cforward-looking statements\u201d within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: \u201cassume,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cguidance,\u201d \u201cintend,\u201d \u201cmany,\u201d \u201cpositioned,\u201d \u201cpotential,\u201d \u201cproject,\u201d \u201cthink,\u201d \u201cshould,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cwould\u201d and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our acquisition of Eco and our potential for growth.<\/p>\n

\nForward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:<\/p>\n