TAMPA, Fla. — Masonite International Corp. announced that it has entered into a definitive agreement for the sale of all assets associated with the company’s Architectural segment to subsidiaries of IBP Solutions, Inc., a newly formed portfolio company of Industrial Opportunity Partners.

The transaction is expected to close in the second quarter of 2024 and is subject to customary closing conditions.

Houlihan Lokey, Inc. acted as Masonite’s financial advisor on the transaction.

The Architectural segment of Masonite is involved in the production and distribution of doors and door systems, specifically catering to the construction and renovation sectors.

IBP Solutions, under the umbrella of Industrial Opportunity Partners, is a newly established entity. IOP is an Evanston, Illinois-based private equity firm with a substantial capital commitment, specializing in the manufacturing and distribution sectors.