LOS ANGELES, April 17, 2023 /PRNewswire/ — Platinum Equity announced nowadays the signing of a definitive agreement to obtain the JELD-WEN Australasia windows, doors and associated creating goods small business from JELD-WEN Holding, Inc. (NYSE: JELD) for about $461 million.

The transaction is anticipated to close in the third quarter of 2023, topic to particular closing situations and regulatory approvals.

“We are proud to have crafted a divestiture remedy that delivers speed and certainty to JELD-WEN at a time when the M&ampA marketplace remains difficult,” mentioned Platinum Equity Co-President Louis Samson. “We are excited about the prospects for the Australasia small business. Platinum has decades of practical experience with corporate carve outs, assisting establish standalone firms that can maximize their prospective.”

JELD-WEN’s Australasia small business is a top Australian designer, manufacturer and distributor of windows and doors. It employs about five,000 people today and comprises 41 manufacturing areas across Australia, Malaysia and Indonesia. Its notable brands involve Corinthian®, Stegbar®, A&ampL®, Trend® and Breezway®, amongst other people.

“JELD-WEN has constructed an impressive small business in Australasia, with nicely-recognized brands and a extended legacy of manufacturing higher-high-quality goods,” mentioned Platinum Equity Managing Director Adam Cooper. “The small business is resilient, has performed nicely via many cycles, and is nicely-positioned for extended-term achievement.”

Mr. Cooper mentioned Platinum Equity is the great companion for JELD-WEN’s Australasia small business.

“With our practical experience in Australia, information of the creating goods space, and our carve out knowledge and operational capabilities, we appear forward to assisting the small business navigate a dynamic housing marketplace,” Mr. Cooper added. “This investment is correct in our wheelhouse. We will perform with management to continue giving higher-high-quality, dependable options for clients across Australia.”

Platinum Equity’s present portfolio consists of Winc, an workplace goods provider formed via a mixture of Staples and OfficeMax assets Platinum Equity acquired in Australia and New Zealand. Platinum Equity previously owned Sensis, an Australian directories small business the firm acquired from Telstra.

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In the creating goods space, the firm’s present portfolio consists of Cabinetworks, the biggest independently owned manufacturer and distributor of kitchen and bath cabinets in the United States, and PGS, a provider of difficult surface floor coverings. Earlier creating goods investments involve: Interior Logic Group, a provider of interior design and style and finish options for the homebuilding sector PrimeSource, a national distributor of specialty creating supplies and Nilco, a wholesale distributor of specialty creating supplies and industrial goods.

Gresham Advisory Partners is serving as economic adviser to Platinum Equity, and Allens is serving as Platinum Equity’s legal counsel. Macquarie Capital is serving as economic adviser to JELD-WEN and Herbert Smith Freehills is serving as legal counsel.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a worldwide investment firm with about $47 billion of assets below management and a portfolio of about 50 operating firms that serve clients about the globe. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked tactic it calls M&ampA&ampO® – acquiring and operating firms in a broad variety of small business markets, such as manufacturing, distribution, transportation and logistics, gear rental, metals solutions, media and entertainment, technologies, telecommunications and other industries. More than the previous 27 years Platinum Equity has completed far more than 350 acquisitions.

Media Contacts:

Dan Whelan
Platinum Equity
(310) 282-9202



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