Jeld-Wen Closes in on IPO

By Chris Lange Updated Jan 12, 4:39PM EST · Published Dec 19, 10:45AM EST

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Jeld-Wen Closes in on IPO — © Thinkstock

Jeld-Wen Holding has registered its fourth 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, but the offering is valued up to $100 million. The company intends to list its shares 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.

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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, to drive profitable organic growth, to pursue strategic acquisitions and to 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.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.