JELD-WEN Holding, Inc. Announces Agreement to Acquire Domoferm
CHARLOTTE, N.C.--(BUSINESS WIRE)--
JELD-WEN Holding, Inc. (NYSE:JELD) has signed a definitive agreement to
acquire the Domoferm Group of companies (“Domoferm”) from holding
company Domoferm International GmbH. Domoferm is a leading European
provider of steel doors, steel door frames, and fire doors for
commercial and residential markets. Domoferm is based in Gänserndorf,
Austria, with over 1,000 employees at four manufacturing sites in
Austria, Germany, and the Czech Republic. With a history dating to 1960,
Domoferm has developed a long track record of delivering high-quality
products and innovative designs.
“Domoferm’s capabilities in steel frames and doors significantly expand
our European product range, including certified door systems,” said Mark
Beck, president and chief executive officer. “We expect to deliver cost
synergies through implementation of our JEM productivity initiatives. We
are thrilled to welcome the Domoferm team to JELD-WEN.”
JELD-WEN expects the transaction to close in mid to late first quarter
of 2018, subject to customary closing conditions. Terms of the
acquisition were not disclosed.
Domoferm International GmbH was privately held by Austro Holding GmbH
and Grosso Holding GmbH.
JELD-WEN expects the acquisition to add approximately €110 million in
annualized revenue. Additionally, JELD-WEN expects the acquisition to be
accretive to EPS in 2018, excluding the impact of purchase accounting.
Domoferm is JELD-WEN’s tenth acquisition since 2015, and the third in
the Europe segment during that period.
About JELD-WEN
JELD-WEN, founded in 1960, is one of the world’s largest door and window
manufacturers, operating over 120 manufacturing facilities in 19
countries located primarily in North America, Europe and Australia.
Headquartered in Charlotte, N.C., JELD-WEN designs, produces and
distributes an extensive range of interior and exterior doors, wood,
vinyl and aluminum windows and related products for use in the new
construction and repair and remodeling of residential homes and
non-residential buildings. JELD-WEN is a recognized leader in
manufacturing energy-efficient products and has been an ENERGY STAR®
Partner since 1998. Our products are marketed globally under the JELD-WEN®
brand, along with several market-leading regional brands such as Swedoor®
and DANA® in Europe and Corinthian®, Stegbar®,
and Trend® in Australia. For more information visit www.jeld-wen.com.
Forward-Looking Statements
Certain of the statements in this press release constitute
“forward-looking statements” within the meaning of the U. S. Private
Securities Litigation Reform Act of 1995. Forward-looking statements are
generally identified by our use of words such as “anticipate”,
“believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”,
“might”, “plan”, “potential”, “predict”, “seek”, or “should”, or the
negative thereof or other variations thereon or comparable terminology.
Forward-looking statements regarding market potential, future financial
performance, and our expectations, beliefs, plans, assumptions, or other
future events are made based on management’s current expectations,
assumptions, estimates, projections, and beliefs concerning future
developments and their potential effects upon JELD-WEN and its
subsidiaries. Although we believe that these statements are based on
reasonable expectations and estimates, they are not a guarantee of
future performance and involve known and unknown risks and
uncertainties, many of which are beyond our control, that could cause
actual outcomes and results to differ, possibly materially, from those
indicated in such statements, including those discussed in our Annual
Report on Form 10-K for the year ended December 31, 2016 and Quarterly
Report on Form 10-Q for the quarter ended July 1, 2017, filed with the
U.S. Securities and Exchange Commission. You should not place undue
reliance on forward-looking statements included in this release, which
speak only as of the date they are made. We do not undertake to update
or revise any forward-looking statement, except as required by law.
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For JELD-WEN Holding, Inc.
Investor Relations:
John Linker,
+1-704-378-7007
investors@jeldwen.com
or
Media
Relations:
Stefanie Week
sweek@cmdagency.com
JELD-WEN@cmdagency.com
Source: JELD-WEN Holding, Inc.