PGT Innovations announces exclusive consumer financing relationship with Service Finance

Rhea-AI Summary

PGT Innovations announces a new exclusive consumer financing relationship with Service Finance Company, LLC, expected to drive future organic growth for PGT Innovations and expand the presence in the window and door industry for SFC.

Positive

• The new financing program will provide PGT Innovations dealers with innovative financing solutions, industry-leading payment features, and consumer-friendly terms, which can help dealers increase their sales. This program is expected to contribute to the future growth and profitability of PGT Innovations.

Negative

• None.

Program provides PGTI dealers industry-leading financing solutions to support customers

NORTH VENICE, Fla.--(BUSINESS WIRE)-- PGT Innovations (NYSE: PGTI), a national leader in the premium window, door, and garage door industry, announced today a new exclusive consumer financing relationship with Service Finance Company, LLC (SFC), a subsidiary of Truist Bank (NYSE: TFC). The new relationship is expected to drive future organic growth for PGT Innovations while expanding the presence in the window and door industry for SFC.

Service Finance provides financing solutions to home improvement dealers across the U.S. As part of the agreement, PGT Innovations dealers will gain access to an innovative financing program, industry-leading payment features, consumer-friendly terms, and access to high-touch training and customer service that can help dealers increase their sales.

“We are excited to announce our new exclusive relationship with Service Finance, as through our dealers’ feedback we have found that consumer financing offerings at competitive costs is key to their success,” said Jeff Jackson, President and CEO of PGT Innovations. “Providing innovative solutions is a foundational pillar of PGT Innovations, and we are confident that the robust consumer financing program we have created with Service Finance will provide an opportunity for our dealers to further grow their businesses and increase their profitability. Service Finance has a strong track record of partnering with manufacturers to create supportive financing programs that drive organic growth, and we are looking forward to exploring future opportunities that will benefit our dealers and consumers.”

“Since our founding, Service Finance has provided dealers innovative financing solutions while providing homeowners flexible payments to meet their project needs, all while providing a level of service unmatched in the home improvement financing space,” said Mark Berch, President of Service Finance. “This new relationship expands Service Finance’s presence in the residential window and door space while enabling PGT Innovations dealers to better serve customers and accelerate their growth.”

“In addition to providing our dealers with a comprehensive consumer financing program at industry-leading costs, we believe the on-site sales training will accelerate the program adoption and ensure our dealers are utilizing all available offerings to better serve their customers and grow their business,” said Debbie LaPinska, SVP and Chief Customer Officer of PGT Innovations. “PGT Innovations’ dedication to serving our dealers perfectly aligns with Service Finance’s dealer- and consumer-friendly culture, and we are excited to see the impact this program will have for our dealers in the future.”

About PGT Innovations, Inc.

PGT Innovations manufactures and supplies premium windows, doors, and garage doors. Its highly engineered and technically advanced products can withstand some of the toughest weather conditions on Earth and are revolutionizing the way people live by unifying indoor and outdoor living spaces.

PGT Innovations creates value through deep customer relationships, understanding the unstated needs of the markets it serves, and a drive to develop category-defining products. Through its brands, PGT Innovations is also the nation’s largest manufacturer of impact-resistant windows and doors and holds the leadership position in its primary market.

The PGT Innovations’ family of brands include CGI^®, PGT^® Custom Windows and Doors, WinDoor^®, Western Window Systems, Anlin Windows & Doors, Eze-Breeze^®, NewSouth Window Systems, Martin Door, and a 75 percent ownership stake in Eco Window Systems. The company’s brands, in their respective markets, are a preferred choice of architects, builders, and homeowners throughout North America and the Caribbean. Their high-quality products are available in custom and standard sizes with massive dimensions that allow for unlimited design possibilities in residential, multi-family, and commercial projects. For additional information, visit www.pgtinnovations.com.

About Service Finance

Boca Raton, FL based – Service Finance Company, LLC (SFC) is a subsidiary of Truist Bank, which is a subsidiary of Truist Financial Corporation (NYSE: TFC). Service Finance, which has financed more than $15 billion in loans since its founding in 2004, currently services more than 15,000 home improvement contractors/dealers nationwide. The company provides retail financing options in all 50 states for 90 manufacturers/associations in windows and doors, HVAC, roofing, renewable energy, kitchen and bath remodeling, siding, plumbing, and electrical. For more information, visit Service Finance (svcfin.com).

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $574 billion as of March 31, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230510005746/en/

PGT Innovations Contact

Media Relations

Stephanie Cz, Corporate Marketing Manager

SCz@PGTInnovations.com

941-480-1600

Service Finance Contact

Jim Cadena

Senior Vice President

866.254.0497

Truist Contact

Brian Boudreaux

Senior Vice President

media@truist.com

Source: PGT Innovations, Inc.

FAQ

What is the new relationship announced by PGT Innovations?

PGT Innovations announced a new exclusive consumer financing relationship with Service Finance Company, LLC, a subsidiary of Truist Bank.

What benefits will PGT Innovations dealers gain from this relationship?

PGT Innovations dealers will gain access to an innovative financing program, industry-leading payment features, consumer-friendly terms, and high-touch training and customer service.

How will this program contribute to the growth of PGT Innovations?

The new financing program is expected to drive future organic growth for PGT Innovations and increase the profitability of its dealers.

Who is Service Finance Company, LLC?

Service Finance Company, LLC is a subsidiary of Truist Bank and provides financing solutions to home improvement dealers across the U.S.

What is the focus of PGT Innovations?

PGT Innovations is a national leader in the premium window, door, and garage door industry.