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Business Observer Friday, Jul. 1, 2011 11 years ago

Masonite acquires $100M firm

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The Tampa-based manufacturer bought Wis.-based Marshfield DoorSystems.

TAMPA — Masonite Inc., a door manufacturer based in Tampa, acquired Wis.-based Marshfield DoorSystems Inc., which had $100 million in revenues in 2010 and 600 employees. Financial terms of the deal were not disclosed.

Based in a town of the same name, Marshfield DoorSystems was founded in 1890 and operates manufacturing three facilities, including one in Largo.

Masonite president and CEO Fred Lynch says the acquisition will diversify Masonite's product offerings, as well as provide a “platform of strategic growth” for the Tampa firm.

In April, Masonite issued $275 million in senior unsecured debt, saying that net proceeds would be used for the funding of future acquisitions, among other needs.

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