Cornerstone Building Brands Completes Divestiture of Its Roll-up Sheet Door Business for $168 Million
Cornerstone Building Brands, Inc. (the “Company”), the largest manufacturer of exterior building products in North America, completed the previously announced sale of its Roll-up Sheet Door business to Janus International Group, Inc. (“Janus”) in a cash transaction for $168 million, subject to customary adjustments. The transaction includes products sold under the DBCI brand.
The completion of the divestiture sharpens Cornerstone Building Brands’ portfolio and positions the Company for further growth in large, deep markets, which we believe will fuel additional value creation. The Company expects to invest the net proceeds in advancing its strategic initiatives towards profitable growth, operational excellence and net debt leverage target of 2.0x to 2.5x.
About Cornerstone Building Brands
Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., we serve residential and commercial customers across the new construction and repair and remodel markets. Our market leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems and metal accessories. Cornerstone Building Brands’ broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are deeply embedded in our culture, and we are committed to contributing positively to the communities where we live, work and play. For more information, visit us at www.cornerstonebuildingbrands.com
About Janus International Group, Inc.
Janus International Group, Inc. (www.JanusIntl.com) is a global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.
Tina Beskind – Vice President Finance & Investor Relations – email@example.com – (866) 419-0042
Source: Cornerstone Building Brands, Inc.