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Jeld-Wen Acquires Austrian Steel Door Manufacturer Domoferm
Thursday 12 October 2017

12 October 2017 - North Carolina, US-based door and window manufacturers Jeld-Wen Holding, Inc. (NYSE: JELD) has agreed to acquire the Austria-based steel door manufacturer Domoferm Group from holding company Domoferm International GmbH to add approximately EUR 110m (USD 131m) in annualised revenue, the company said.

Terms of the acquisition were not disclosed. Jeld-Wen expects the transaction to close in mid to late 1Q18, subject to customary closing conditions.

Jeld-Wen said Domoferm's capabilities in steel frames and doors expand the company's European product range, including certified door systems.

The company said it expects to deliver cost synergies through implementation of JEM productivity initiatives. Domoferm International GmbH was privately held by Austro Holding GmbH and Grosso Holding GmbH.

Jeld-Wen expects the acquisition to be accretive to EPS in 2018, excluding the impact of purchase accounting. Domoferm is Jeld-Wen's tenth acquisition since 2015, and the third in the Europe segment during that period.

Jeld-Wen operates in over 120 manufacturing facilities in 19 countries located primarily in North America, Europe and Australia.

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.

Domoferm is a European provider of steel doors, steel door frames, and fire doors for commercial and residential markets. The company has over 1,000 employees at four manufacturing sites in Austria, Germany, and the Czech Republic.
Details
Date Published: 12/10/2017
Target: Domoferm Group
Country: Austria
Sector: Construction/Real Estate
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Domoferm International
Buyer: Jeld-Wen Holding
Comment:
Terms of the deal were not disclosed

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