Owens Corning’s CEO, Brian Chambers, articulates the overarching vision behind this acquisition, citing the fusion of commercial prowess, operational expertise, and innovative fervor as the catalysts propelling their long-term growth strategy forward. Anticipation hangs thick in the air as Owens Corning eagerly awaits the integration of Masonite’s formidable talent pool into its own ranks.
Owens Corning to Buy Masonite for $3.9B : Financing the Future
Fueling this mammoth acquisition is a blend of financial instruments, with cash reserves and a committed debt financing package of $3 billion extended by Morgan Stanley Senior Funding Inc. Morgan Stanley & Co. spearheads financial advisement for Owens Corning, while Lazard Freres & Co. orchestrates counsel for the company’s board. On the flip side, Masonite navigates the financial labyrinth with guidance from Goldman Sachs and Jefferies.
A Tale of Two Titans
Founded in 1925, Masonite’s legacy looms large in the industry, boasting a global footprint encompassing 64 manufacturing and distribution facilities and over 10,000 employees. Howard Heckes, Masonite’s president and CEO, envisions a future where innovation converges with home solutions, a vision synergistic with Owens Corning’s strategic trajectory.
