Masonite International Corporation has completed the acquisition of DW3 Products Holding Limited, theUK provider of door solutions and window systems, under brand names such as Solidor, Residor, Nicedor, and Residence.
DW3 employs approximately 300 people located in Stoke-on-Trent and Gloucester, England. DW3’s net sales for the twelve months ended December 2017 were approximately £45 million. The purchase price for all of DW3’s outstanding shares was approximately £70 million, net of cash acquired and subject to customary post-closing adjustments.
“DW3 fits exceptionally well with Masonite’s existing business in the UK,” said Tony Hair, Masonite’s President, Global Residential. “Their online quick ship capabilities and product portfolio both complement and expand the strategies we are pursuing in this important market.”
“DW3’s products and service model are a natural addition to Masonite’s business, and Masonite is an excellent cultural fit for our company,” said Gareth Mobley, CEO of DW3. “We are excited about the opportunities this will bring our employees and customers.”