Masonite International Corporation acquired for $3.1 billion by Kohlberg Kravis Roberts

On April 6, 2005, Stile Acquisition Corp., an affiliate of Kohlberg Kravis Roberts & Co., acquired door maker Masonite International Corp. in a transaction valued at $3.1 billion. The outstanding common shares of Masonite were acquired for $42.25 per share. Financing for the transaction was provided in part by a senior credit facility and a subordinated bridge loan facility through a syndicate of lenders led by the Bank of Nova Scotia and Deutsche Bank Securities Inc. The transaction was carried out by way of plan of arrangement under the OBCA.

Masonite's special committee of the board of directors was represented by Bill Orr of Fasken Martineau