Jeld-Wen Holding has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company did not release any pricing details, with the exception that the offering is valued up to $100 million. The company intends to list its share on the New York Stock Exchange under the symbol JELD.
The underwriters for the offering are Barclays, Citigroup, Credit Suisse, JPMorgan, Deutsche Bank, RBC Capital Markets, Merrill Lynch, Goldman Sachs, Wells Fargo, Baird, FBR and SunTrust Robinson Humphrey.
This is one of the world’s largest door and window manufacturers, and it holds the number one position by net revenues in the majority of the countries and markets that it serves. The company 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, to a lesser extent, nonresidential buildings.
Jeld-Wen attributes its market leadership to well-established brands, broad product offering, world-class manufacturing and distribution capabilities and long-standing customer relationships. The overall goal is to achieve best-in-industry financial performance through the rigorous execution of its strategies to reduce costs and improve quality through the implementation of operational excellence programs, drive profitable organic growth, pursue strategic acquisitions and develop top talent.
In the 12-month period ended September 24, 2016, net revenues were $3.6 billion, net income was $144.8 million, and adjusted EBITDA was $369.2 million. Adjusted EBITDA has increased by $216.0 million, or 141.0%, and net income has increased by $213.2 million from the year ended December 31, 2013 to the 12-month period ended September 24, 2016.
The company intends to use the net proceeds from this offering for working capital and other general corporate purposes, including sales and marketing activities, general and administrative matters and capital expenditures. The company said that there are no specific plans yet for the proceeds.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
