Acquisitions (Tables)

12 Months Ended

Jan. 01, 2022

Anlin Windows & Doors [Member]

Schedule of Fair Value of Assets and Liabilities Assumed

The estimated fair value of assets acquired, and liabilities assumed as of the closing date, are as follows:

	Preliminary Allocation
Accounts receivable	$	10,803
Inventories		7,633
Contract assets, net		7,027
Prepaid expenses and other assets		1,626
Property and equipment		22,800
Operating lease right-of-use asset		3,450
Intangible assets		77,800
Goodwill		5,596
Total assets acquired		136,735
Accounts payable		(5,175	)
Accrued and other liabilities		(7,993	)
Operating lease liability		(3,450	)
Total liabilities assumed		(16,618	)
Fair value of consideration transferred	$	120,117
Consideration:
Cash	$	114,196
Contingent consideration		5,921
Fair value of consideration transferred	$	120,117

Schedule for Valuation of Identifiable Intangible Assets Acquired and Estimate of Useful Lives

The valuation of the identifiable intangible assets acquired in the Anlin Acquisition and our estimate of their respective useful lives are as follows:

			Initial
	Preliminary		Useful Life
	Valuation		(in years)
(in thousands)
Trade name	$	35,400	indefinite
Customer relationships		42,100	15
Developed technology		300	9
Intangible assets, net	$	77,800

Summary of Unaudited Proforma Results

The unaudited pro forma results do not include the impact of synergies, nor any potential impacts on current or future market conditions which could alter the following unaudited pro forma results.

	Years Ended
	January 1,		January 2,
Pro Forma Results (unaudited)	2022		2021
(in thousands, except per share amounts)	(unaudited)
Net sales	$	1,251,314	$	967,825
Net income attributable to common shareholders	$	35,273	$	50,838
Net income per common share attributable to common shareholders:
Basic	$	0.59	$	0.86
Diluted	$	0.59	$	0.86

New South Window Solutions LLC and New South Window Solutions of Orlando LLC [Member]

Schedule of Fair Value of Assets and Liabilities Assumed

The estimated fair value of assets acquired, and liabilities assumed as of the closing date, are as follows:

	Initial Allocation			Adjustments to Allocation			Final Allocation
Accounts receivable	$	10,294		$	(1,860	)	$	8,434
Inventories		3,757			(821	)		2,936
Contract assets, net		4,413			—			4,413
Prepaid expenses and other assets		1,756			—			1,756
Property and equipment		7,423			10			7,433
Operating lease right-of-use asset		10,578			—			10,578
Intangible assets		28,670			(1,300	)		27,370
Goodwill		46,200			5,894			52,094
Accounts payable		(6,621	)		—			(6,621	)
Accrued and other liabilities		(5,524	)		(1,923	)		(7,447	)
Operating lease liability		(10,578	)		—			(10,578	)
Purchase price	$	90,368		$	—		$	90,368
Consideration:
Cash	$	90,145		$	223		$	90,368
Due to Sellers		223			(223	)		-
Total fair value of consideration	$	90,368		$	—		$	90,368

Schedule for Valuation of Identifiable Intangible Assets Acquired and Estimate of Useful Lives

The valuation of the identifiable intangible assets acquired in the NewSouth Acquisition and our estimate of their respective useful lives are as follows:

								Initial
	Initial		Adjustment to			Final		Useful Life
	Valuation		Valuation			Valuation		(in years)
(in thousands)
Trade name	$	23,500	$	(1,300	)	$	22,200	15
Non-compete agreements		1,670		—			1,670	5
Developed technology		2,600		—			2,600	6
Customer-related intangible		900		—			900	<1
Other intangible assets, net	$	28,670	$	(1,300	)	$	27,370

Summary of Unaudited Proforma Results

The unaudited pro forma results do not include the impact of synergies, nor any potential impacts on current or future market conditions which could alter the following unaudited pro forma results.

	Years Ended
	January 2,		December 28,
Pro Forma Results (unaudited)	2021		2019
(in thousands, except per share amounts)	(unaudited)
Net sales	$	890,373	$	831,610
Net income	$	45,338	$	44,925
Net income per common share attributable to common shareholders:
Basic	$	0.77	$	0.77
Diluted	$	0.76	$	0.76

ECO [Member]

Schedule of Fair Value of Assets and Liabilities Assumed

The estimated fair value of assets acquired, and liabilities assumed as of the closing date of the Eco Acquisition, are as follows:

	Initial Allocation			Adjustments to Allocation			Preliminary Allocation
Accounts receivable	$	5,031		$	(241	)	$	4,790
Inventories		7,728			(684	)		7,044
Contract assets, net		4,312			(123	)		4,189
Prepaid expenses and other assets		1,706			(759	)		947
Property and equipment		24,009			(191	)		23,818
Operating lease right-of-use asset		27,864			(1,049	)		26,815
Intangible assets		72,700			1,600			74,300
Goodwill		30,051			(4,467	)		25,584
Total assets acquired		173,401			(5,914	)		167,487
Accounts payable		(6,809	)		(116	)		(6,925	)
Accrued and other liabilities, including customer deposits		(4,215	)		(604	)		(4,819	)
Operating lease liability		(27,864	)		1,049			(26,815	)
Total liabilities assumed		(38,888	)		329			(38,559	)
Net assets acquired		134,513			(5,585	)		128,928
Redeemable non-controlling interest		(34,084	)		5,620			(28,464	)
Fair value of consideration transferred	$	100,429		$	35		$	100,464
Consideration:
Cash	$	94,321		$	35		$	94,356
PGTI common stock		6,108			—			6,108
Fair value of consideration transferred	$	100,429		$	35		$	100,464

Schedule for Valuation of Identifiable Intangible Assets Acquired and Estimate of Useful Lives

The valuation of the identifiable intangible assets acquired in the Eco Acquisition and our estimate of their respective useful lives are as follows:

								Initial
	Initial		Adjustment to			Preliminary		Useful Life
	Valuation		Valuation			Valuation		(in years)
(in thousands)
Trade names	$	36,000	$	(1,100	)	$	34,900	indefinite
Customer relationships		36,700		2,700			39,400	5 - 15
Intangible assets, net	$	72,700	$	1,600		$	74,300

Summary of Unaudited Proforma Results

The unaudited pro forma results do not include the impact of synergies, nor any potential impacts on current or future market conditions which could alter the following unaudited pro forma results.

	Years Ended
	January 1,		January 2,
Pro Forma Results (unaudited)	2022		2021
(in thousands, except per share amounts)	(unaudited)
Net sales	$	1,169,416	$	945,930
Net income attributable to common shareholders	$	26,375	$	39,220
Net income per common share attributable to common shareholders:
Basic	$	0.44	$	0.67
Diluted	$	0.44	$	0.66