Ply Gem agrees to buy Simonton Windows
Cary, North Carolina-based Ply Gem signed a deal with Fortune Brands Home & Security to acquire Simonton Windows.
The deal is valued at about 10 times Simonton’s earnings before interests, taxes, depreciation and amortization — about $130 million — and is expected to take close in October. Simonton’s annual revenues are more than $300 million.
Ply Gem will also acquire SimEx, a vinyl and PVC foam extrusion manufacturing plant in West Virginia, as part of the deal with Fortune Brands.
Ply Gem pointed to several benefits of the acquisition, including the establishment of a strong national residential windows platform, The addition of business in the repair and remodeling market (Simonton’s strength), and the prospect of operational efficiencies.
Ply Gem will operate Simonton Windows as a stand-alone business unit, similar to the way the company’s existing Siding and Window groups operate today. Simonton customers will continue to be serviced through its existing relationships.
The addition of Simonton Windows in full alignment with our strategic growth plan and will better balance the mix of end markets that we serve while strengthening our core capabilities and contributing significantly to revenues in the future,” said Gary E. Robinette, Ply Gem’s President and CEO.
Robinette added that Ply Gem will welcome the experienced Simonton management team to Ply Gem when the deal is closed.
“The sale … will allow us to more sharply focus on our Therma-Tru entry door and Fypon trim business and position us to further increase operating results in 2015,” Fortune Brands CEO Chris Klein said.
hhgregg wins out in J.D. Power ranking
Topping the list of appliance retailers up for review, hhgregg was honored with the highest score (of 819) in the J.D. Power Appliance Retailer Customer Satisfaction Study.
The annual J.D. Power survey uses criteria such as sales staff, merchandise, price and installation service to measurecustomer satisfaction with some of the country’s largest appliance retailers. This year’s study surveyed more than 2,900 customers who purchased a laundry or kitchen appliance in the previous 12 months.
Hhgregg ranked above average in every measure, ranking the highest in sales staff and overall delivery service.
“Our employees are the core of our customer experience – from sales to delivery and installation," said CEO Dennis May. "I’m incredibly proud of our recognition as the top appliance retailer in J.D. Power’s customer satisfaction study. Each and every hhgregg employee played a role in earning this award. As a retailer, our primary objective is to consistently deliver impeccable customer service before, during and after every customer’s purchase. Our dedicated staff exemplifies this commitment every day.”
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From Leviton, a bolstered line of VerifEye smart meters
Leviton expanded its revenue-grade line of VerifEye submetering solutions with the introduction of its Series 4000 Industrial ModBus Smart Meter.
Combining performance and easy installation for three-phase systems, the Series 4000 submetering kits offer a turnkey solution for measuring and verifying electrical usage across a range of industrial, commercial, institutional and government cost-allocation, and energy-conservation applications, the company said.
“The global demand for building owners to comply with energy codes, responsibly account for energy consumption and accurately bill tenants has given rise to the need for highly flexible, cost-effective submetering solutions across a range of international compliance and performance standards,” said Richard Westfall, VP and general manager, Leviton Lighting & Energy Solutions. “The Series 4000 provides our customers with an unparalleled combination of industrial-class functionality, ease of installation and cost efficacy.”
VerifEye Series 4000 meters communicate using ModBus RTU open protocols for interoperability with automatic meter reader systems (AMR), building automation systems (BAS), building management systems (BMS) and energy management information systems (EMIS).
The Series 4000 can be used as part of a submetering solution to benchmark usage, allocate costs, efficiently bill tenants and comply with green buildings initiatives and government mandates. When used with Leviton’s Energy Management Hub (EMH), users can seamlessly integrate with VerifEye’s web-based or PC-based software platforms. The software allows a building owner or facility manager to allocate energy inefficiencies in real time and easily generate bills.
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