Owens Corning has completed the acquisition of Masonite International Corp. and appointed Chris Ball as president of its newly acquired doors business. Ball previously served as president of Masonite’s global residential business. All outstanding Masonite common shares have been acquired by Owens Corning for $133 per share, bringing the total deal to an implied transaction value of approximately $3.9 billion.

“The addition of Masonite to Owens Corning marks a significant milestone for our company as we further strengthen our position as a market leader in building and construction materials,” said Brian Chambers, chair and CEO of Owens Corning. “Over the past several years, Owens Corning has been on a journey to transform and grow our company through strategic choices and strong execution. The completion of this acquisition represents the start of an exciting next chapter that allows us to leverage our proven commercial, operational, and innovation capabilities to increase our offering of highly valued branded building materials for our customers. We are excited about expanding into this new growth platform and for the opportunities ahead.”

The acquisition was announced in February 2024, marking an unexpected twist in a string of intertwining offers. Weeks prior, PGT Innovations dismissed Masonite as an acquisition target, leaving Masonite to pocket an $84 million termination fee. Miter Brands later acquired PGTI. Corning’s acquisition of Masonite proceeded despite one of Masonite’s shareholders seeking to halt the transaction, alleging that the company filed “materially incomplete and misleading” information about the deal.

In April, Masonite agreed to sell all assets associated with the company’s architectural segment to subsidiaries of IBP Solutions Inc., a newly formed portfolio company of Industrial Opportunity Partners.

Chris Ball

With the acquisition of Masonite, Owens Corning’s annual revenue grows to $12.5 billion, with adjusted EBITDA of $2.9 billion on a synergized basis. Ongoing capital intensity is expected to be reduced, and Owens Corning expects to achieve approximately $125 million in run-rate cost synergies.

“We are pleased to welcome Chris to the Owens Corning executive team,” said Chambers of Ball’s appointment. “His proven track record of growing businesses and developing talent, as well as his strong commercial execution, operational knowledge, and customer focus, will be instrumental as he leads this business into the future.”

Ball joined Masonite as president of its global residential business in September 2021, having previously held leadership roles at several Fortune 500 companies. He was president of the Americas for Cooper Tire & Rubber Company, where he led the North America, Latin America, and global commercial truck tire business units. Before Cooper Tire, he served in various roles for Whirlpool Corp., including as global vice president for the KitchenAid small appliance business and general manager of the North America laundry unit, Whirlpool’s largest business. He also worked in sales leadership roles for General Mills Inc.

Ball holds a bachelor’s degree from Indiana University’s Kelley School of Business and a Master of Business Administration degree from the executive master’s program at Northwestern University’s Kellogg School of Management. He reports directly to chair and CEO Brian Chambers, while serving as a member of the company’s executive committee.

“Today we are combining two highly talented teams with a shared focus on keeping each other safe, helping our customers win and grow in the market, and delivering value for our shareholders,” Chambers said. “We look forward to working together with Chris and all of our new colleagues from Masonite.”

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