TAMPA, FL, October 8, 2010 – Masonite Inc. (the "Company") today announced the acquisition of substantially all of the assets of Lifetime Doors Inc. ("Lifetime"), headquartered in Farmington Hills, MI. Lifetime is an interior flush door manufacturer specializing in molded, veneer, prefinished, and bifold doors.
Lifetime was founded in 1947 in Livonia, Michigan, by William Gilbert and has been manufacturing and selling high quality door products since its inception. The financial details of the acquisition have not been disclosed.
"Lifetime is a natural fit for Masonite. Lifetime’s geographic coverage, along with strong customer relationships will complement Masonite’s operations and create exciting new opportunities for our customers, employees, and suppliers and enable Masonite to continue delivering on its strategic growth initiatives," stated Larry Repar, Masonite’s Executive Vice President and Chief Operating Officer.
"We are excited to join the Masonite team," said John Hauss, Lifetime’s President. "Masonite’s business provides customers with innovative products and industry leadership on a worldwide scale. We look forward to partnering with Masonite to serve our current and future customers and to achieve our long-term business goals."
Mr. Hauss, a 20+ year veteran of the molded door industry, will remain with Masonite in a senior advisory role. Key members of Lifetime’s sales organization will also join Masonite, adding additional capabilities to Masonite as the Company continues delivering on its strategic growth initiatives.
This acquisition is the fifth transaction executed by Masonite this year. In March Masonite acquired Ledco, Inc., an interior door manufacturer in the US. In June and July Masonite closed three additional transactions establishing Masonite as a clear leader in the fast growing molded door market in India.
Masonite Inc. is a leading global manufacturer of residential and commercial doors, committed to providing the highest value door products to our customers in more than 85 countries around the world.
SOURCE: Masonite Inc.
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