Subsequent Events

9 Months Ended

Oct. 02, 2022

Subsequent Event Abstract [Abstract]

Subsequent Event

Subsequent Event On October 28, 2022, the Company entered into an amendment (the "ABL Amendment") to our ABL Facility, which, among other things, (i) increased the revolving credit commitments available thereunder by $100.0 million (subject to certain specified sublimits available thereunder) to an aggregate of $350.0 million and (ii) replaced the LIBOR-based interest rate applicable to borrowing in U.S. dollars with an interest rate based on the sum of (x) a secured overnight financing rate published by an administrator of such rate plus plus (y) 10 basis points. The terms of the ABL

Facility remained otherwise substantially unchanged. As of November 7, 2022, we had availability of $350.0 million under our ABL Facility and there were no amounts outstanding.

On November 2, 2022, the Company entered into a definitive agreement to acquire the holding company of Endura Products ("Endura"), for approximately $375.0 million in cash, subject to customary closing adjustments and regulatory approval. Endura is a leading innovator and manufacturer high-performance door frames and door system components. The transaction is currently expected to be completed near the end of 2022, subject to satisfaction of customary closing conditions, including expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction will be funded with a combination of cash on hand, borrowings under the ABL Facility and an expected new term loan.