Cornerstone Building Brands Inc., an exterior building products manufacturer, has acquired Spokane Valley-based Cascade Windows for $245 million, the company reported Tuesday.
Cascade Windows, headquartered at 10507 E. Montgomery Drive, is a manufacturer of vinyl windows and doors, serving residential construction, repair and remodel markets. It has more than 800 employees at six manufacturing and three distribution facilities on the West Coast, according to a company release.
Cornerstone indicated the acquisition of Cascade Windows will advance its strategy to grow in the large residential windows market.
Cascade Windows generated nearly $160 million in sales in the fiscal year ending May 2021, according to the company release.
“Additionally, the acquisition expands our manufacturing presence across the rapidly growing West Coast region and enhances our tailored solutions offering for our customers,” James S. Metcalf, Cornerstone’s chairman and chief executive officer, said in a statement.
Cornerstone Building Brands, a publicly traded company headquartered in Cary, North Carolina, describes itself as “the largest manufacturer of exterior building products for residential and low-rise commercial buildings in the U.S.”
Cornerstone Building Brands was not immediately available Tuesday for comment on the acquisition.
Dallas-based private equity firm, CenterOak Partners LLC, which sold Cascade Windows to Cornerstone Building Brands, declined to comment. CenterOak acquired Cascade Windows in 2016.
The transaction is subject to regulatory approval and is expected to close in the third quarter of 2021.