Masonite plans new term loan for Endura Products purchase

By Sara Rosenberg

New York, Nov. 3 – Masonite International Corp. plans on getting a new term loan to help fund its acquisition of Endura Products, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company also plans to use borrowings under its ABL revolving credit facility and cash on hand for the roughly $375 million acquisition.

On Oct. 28, the ABL revolver was amended, increasing the size by $100 million to $350 million, switching pricing to SOFR-based from Libor-based and adding 10 basis points CSA.

Closing on the acquisition is expected near the end of this year, subject to customary conditions, including expiration of the waiting period under the Hart Scott Rodino Antitrust Improvements Act.

Masonite is a Tampa, Fla.-based manufacturer and distributor of interior and exterior doors and door systems. Endura is a Colfax, N.C.-based manufacturer of high-performance door frames and door system components.

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