JELD-WEN Holding, Inc. Announces Agreement to Acquire VPI Quality Windows, Inc.
JELD-WEN Holding, Inc. (“JELD-WEN”) has signed a definitive agreement to acquire VPI Quality Windows, Inc. (“VPI”). VPI is a market-leading vinyl window manufacturer specializing in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects, primarily in the western United States. VPI has earned a reputation as a preferred supplier of windows for the multi-family market through a relentless focus on quality, service and superior product performance.
“VPI will provide JELD-WEN with a foundation for growth in the multi-family window market, providing us with a premier product and brand in the segment. We believe that VPI’s capabilities and service model, combined with JELD-WEN’s national distribution footprint, will provide significant growth potential,” said Gary Michel, president and chief executive officer. “The acquisition of VPI extends our successful M&A track record and demonstrates our disciplined and balanced approach to capital allocation.”
JELD-WEN expects the transaction to close late in the first quarter of 2019, subject to customary closing conditions. Terms of the acquisition were not disclosed.
JELD-WEN expects VPI to add approximately $60 million in annualized revenue and that the acquisition will be immediately accretive to both adjusted EPS and adjusted EBITDA margins.
JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating manufacturing facilities in 20 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.
Christopher Teachout – Investor Relations – email@example.com – (704) 378-7007
Chris Benware – Media Relations – JELD-WEN@cmdagency.com
Source: JELD-WEN Holding, Inc.