JELD-WEN Completes Sale of Australasia Business to Platinum Equity

JELD-WEN Holding, Inc. (NYSE: JELD), a leading global manufacturer of building products, today announced that it has completed the previously announced sale of its Australasia business to Platinum Equity, a global investment firm.

“The closing of this transaction represents a significant milestone in our strategy to simplify and streamline the company while maximizing shareholder value,” said JELD-WEN Chief Executive Officer William J. Christensen. “The sale of the Australasia business enables us to focus on our two largest and core regions, North America and Europe, and to strengthen our balance sheet.”   

The transaction generated net proceeds of approximately $446 million for JELD-WEN and the company plans to use the funds to repay debt. Excluding the Australasia business, JELD-WEN’s 2022 net revenue was $4.5 billion, and the North America and Europe segments contributed 72% and 28% respectively.  

Advisers

Macquarie Capital served as financial adviser to JELD-WEN, and Herbert Smith Freehills served as legal counsel. Gresham Advisory Partners served as financial adviser to Platinum Equity, and Allens served as legal counsel.

About JELD-WEN Holding, Inc.

Headquartered in Charlotte, N.C., JELD-WEN is a leading global manufacturer of high-performance interior and exterior building products, offering one of the broadest selections of windows, interior and exterior doors, and wall systems. JELD-WEN delivers a differentiated customer experience, providing construction professionals with durable, energy-efficient products and labor-saving services that help them maximize productivity and create beautiful, secure spaces for all to enjoy. The JELD-WEN team is driven by innovation and committed to creating safe, sustainable environments for customers, associates, and local communities. The JELD-WEN family of brands includes JELD-WEN® worldwide; LaCantina™ and VPI™ in North America; Swedoor® and DANA® in Europe; and Corinthian®, Stegbar®, and Breezway® in Australia.

Source: JELD-WEN Holding, Inc.