Qualified Remodeler Magazine

SEP 2018

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: https://qualifiedremodeler.epubxp.com/i/1027259

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Page 7 of 79

ndersen Corporation signed an agreement to sell its hollow-core-vinyl window and patio door business, in- cluding the Silver Line and American Craftsman brands, to Ply Gem, a manufacturer of building products used in new construction, home repair and remodeling. e transaction is valued at $190 million. Andersen operates in many fenestration segments. In recent years, the company has achieved growth, driven by its Andersen, Renewal by Andersen and specialty brands. "is divestiture is part of Andersen's broader strategy to sharpen our focus on our Andersen, Renewal by Andersen and specialty brands; continue to make the significant investments required to support our fast-growing, proprietary, Fibrex engineered composite products; and deliver exceptional value to our customers for years to come," says Andersen Corporation Chairman and CEO Jay Lund. "In addition, we believe the Silver Line and American Craftsman brands and the talented employees who have built these brands will have continued growth opportunities under Ply Gem's stewardship." Ply Gem will acquire the four Silver Line manufacturing plants, associ- ated distribution and support services for $190 million, which represents a 10x multiple of Silver Line's trailing 12-month EBITDA through the second quarter of 2018. e more than 4,000 employees working in these locations and functions will transition to Ply Gem with the business. "e Silver Line and American Craftsman brands are industry-lead- ing brands and have been trusted by customers and consumers for over 60 years, and Ply Gem is excited to add them to our existing portfolio of quality window products," says Gary E. Robinette, Ply Gem's chairman and CEO. e transaction is expected to close by early in the fourth calendar quarter of 2018. Andersen Selling Silver Line Brand to Ply Gem MARKET OUTLOOK continued MARKETING Demand for outdoor kitchens to reach $325 million Demand for outdoor kitchen cooking fixtures is projected to climb 5.4 percent annually to $325 million in 2022, says a new report from Freedonia, a Cleveland- based research firm. The report notes that gains will be driven by: • Ongoing development of high-end grills (e.g., with infrared heating elements, integrated smoker boxes, and LED-illuminated controls), supporting pricing growth and value gains • Increasing interest in artisanal grilling, encouraging the use of high-end specialty fixtures such as kamados and pellet grills, support- ing value gains • Rising interest in installing mul- tiple cooking fixtures—including lower-cost add-ons like side burners and other peripherals—to enhance an outdoor kitchen's functionality. A Tundraland Home Improvements, a Wisconsin-based home remodeling company that specializes in baths, replacement windows and decks, set a Guinness World Records title for the largest display of painted windows. The company set the record through its annual fundraiser that combines passionate communities with artistic talents to raise money for deserving individuals and families, Windows for a Cause. An official Guinness adjudicator confirmed that 1,651 painted windows were on display, making Tundraland a title holder after hundreds of people painted windows over a weekend. In order to set the record, 1,500 windows needed to be painted. Tundraland owner Brian Gottlieb is shown above with some of the painted windows. Tundraland painted-window promotion nets world record 8 September 2018 QR QualifiedRemodeler.com IN BRIEF

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