Onex-backed door-and-window maker Jeld-Wen prices IPO

Jeld-Wen Holding Inc has priced its initial public offering (IPO) of 25 million common shares at US$23 per share. The IPO, filed last year, will generate about US$575 million in proceeds, according to Renaissance Capital, and result in the company listing its shares on the New York Stock Exchange under the symbol “JELD.” Canadian private equity firm Onex Corp, which bought into Jeld-Wen in October 2011, will share in the proceeds. Onex reports making an equity investment of US$985 million in Jeld-Wen, a Charlotte, North Carolina-based manufacturer of doors and windows.

PRESS RELEASE

JELD-WEN Announces Pricing of Initial Public Offering

Charlotte, North Carolina, January 26, 2017 – JELD-WEN Holding, Inc. (“JELD-WEN” or the “Company”) today announced the pricing of its initial public offering of 25,000,000 shares of its common stock at a public offering price of $23 per share. Of those shares, the Company is selling 22,272,727 shares and certain stockholders of the Company affiliated with Onex Corporation are selling 2,727,273 shares. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares. Shares of the Company’s common stock are expected to begin trading on January 27, 2017 on the New York Stock Exchange under the symbol “JELD.” The offering is expected to close on February 1, 2017, subject to the satisfaction of customary closing conditions.

Barclays, Citigroup, Credit Suisse, J.P. Morgan, Deutsche Bank Securities, RBC Capital Markets, BofA Merrill Lynch, Goldman, Sachs & Co., and Wells Fargo Securities are acting as joint book-running managers in the offering. Baird, FBR, and SunTrust Robinson Humphrey are acting as co-managers in the offering.

The offering of these securities is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from: Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (888) 603-5847 or by email at barclaysprospectus@broadridge.com; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (800) 831-9146.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on January 26, 2017. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About JELD-WEN

JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating 115 manufacturing facilities in 19 countries located primarily in North America, Europe and Australia. Headquartered in Charlotte, North Carolina, 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. 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.

Contact Information:

Investor Relations: (704) 378-7007 or investors@jeldwen.com
Media Relations: Colby Reade, CMD, 503-488-4209, creade@cmdagency.com, JELD-WEN@cmdagency.com

Photo courtesy of Jeld-Wen Inc