Acquisitions (Tables)

12 Months Ended

Jan. 02, 2021

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:
Basic	$	0.77	$	0.77
Diluted	$	0.76	$	0.76

Western Window Systems [Member]

Schedule of Fair Value of Assets and Liabilities Assumed

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

	Initial Allocation			Adjustments to Allocation			Final Allocation
Accounts and notes receivable	$	7,555		$	(217	)	$	7,338
Inventories		12,580			-			12,580
Contract assets, net		890			-			890
Prepaid expenses and other assets		1,190			-			1,190
Property and equipment		16,416			(447	)		15,969
Intangible assets		167,000			-			167,000
Goodwill		164,379			5,162			169,541
Accounts payable		(5,622	)		-			(5,622	)
Accrued and other liabilities		(9,175	)		53			(9,122	)
Deferred income tax liabilities		-			(5,180	)		(5,180	)
Purchase price	$	355,213		$	(629	)	$	354,584
Consideration:
Cash	$	355,213		$	(629	)	$	354,584
Total fair value of consideration	$	355,213		$	(629	)	$	354,584

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

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

			Initial
	Final		Useful Life
	Valuation		(in years)
(in thousands)
Trade name	$	73,000	indefinite
Customer relationships		94,000	10
Other intangible assets, net	$	167,000

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.

	Year Ended
	December 29,
Pro Forma Results (unaudited)	2018
(in thousands, except per share amounts)
Net sales	$	775,473
Net income	$	50,407
Net income per common share:
Basic	$	0.96
Diluted	$	0.93