Window firm PGT buys Miami company in $111M deal

VENICE — Impact resistant window and door manufacturer PGT Inc. acquired Miami-based CGI Windows & Doors Holdings Inc. in a $111 million deal.

CGI, according to a release, will now become a wholly-owned subsidiary of PGT, one of the largest companies in the Sarasota-Bradenton market. CGI will continue to operate and manufacture products in Miami and remain a separate brand in the marketplace.

The deal, expected to close in September, was announced after the markets closed July 28. PGT will pay for the transaction with cash on hand and from part of a $235 million long-term loan from Deutsche Bank and Keybanc, according to the release. The bank financing, PGT says, will also be used to repay existing debt and for general corporate purposes.