PLY GEM ANNOUNCES CLOSING OF ACQUISITION OF
ALENCO
Kearney, MO, February 27, 2006 – Ply Gem Industries, Inc. and its private equity sponsor,
Caxton-Iseman Capital, Inc., have announced the closing of the previously announced acquisition
by Ply Gem of AWC Holding Company and its subsidiaries (“Alenco”) for approximately $120
million in cash, which included approximately $31 million to repay outstanding indebtedness of
Alenco. Alenco is a leading, low-cost, vertically integrated manufacturer of aluminum and vinyl
windows and doors.
The acquisition was financed with approximately $3 million of cash on hand, $118 million
of new term loan borrowings under Ply Gem’s existing credit facility which was amended for the
transaction and $8 million of proceeds from the sale of equity securities to members of Alenco’s
management.
Lee D. Meyer, President and Chief Executive Officer of Ply Gem, said “We expect the
combination of Ply Gem and Alenco will enable us to capitalize on attractive market opportunities.
Alenco is an important element in establishing a footprint to serve our growing regional and
national customers and provide us with a great platform to accelerate our growth in the window
segment. Alenco’s products and service capabilities are extremely well respected and utilized in
the new construction market. We look forward to joining forces with Brian Redpath, President
and Chief Executive Officer of Alenco, his outstanding management team and all of the Alenco
employees.”
Robert A. Ferris, a Managing Director of Caxton-Iseman Capital, said, “We are pleased
by the progress we have made in our Ply Gem investment. Since we acquired the company in
February of 2004, Lee Meyer and his team have continued to post solid financial and operating
results. We believe the acquisition of Alenco and its great product line presents Ply Gem with
many exciting opportunities and look forward to our new partnership with the outstanding Alenco
management team led by Brian Redpath