Onex Corp. and its affiliates recently announced the completion of their investment in Jeld-Wen Holding Inc., one of the world’s largest residential door and window manufacturers.
The total investment of $871 million includes $689 million from Onex Partners III, of which Onex’ share was $124 million as a limited partner in the Fund, and Onex’ $182 million investment as a co-investor in the transaction.
Onex intends to offer a portion of this co-investment to its third-party limited partners. With the completion of the Jeld-Wen investment, Onex Partners III is approximately 40% invested.
The Onex Group’s total investment of $871 million includes: (i) $700 million of convertible preferred stock to acquire a 58% ownership stake; and (ii) a $171 million convertible note that can be redeemed within 18 months with proceeds from the sale of certain non-core assets and, if not redeemed, will convert into additional shares of convertible preferred stock. In connection with the acquisition, Jeld-Wen completed a $460 million bond offering, the proceeds of which in combination with the Onex Group’s investment were used to refinance the company’s existing debt.
The balance of the company continues to be owned by the trust of the late founder Richard Wendt, members of the Wendt family, Jeld-Wen employees and other existing shareholders. BD+C
Related Stories
| Aug 11, 2010
ZweigWhite names its fastest-growing architecture, engineering, and environmental firms
Management consulting and research firm ZweigWhite has identified the 200 fastest-growing architecture, engineering, and environmental consulting firms in the U.S. and Canada for its annual ranking, The Zweig Letter Hot Firm List. This annual list features the design and environmental firms that have outperformed the economy and competitors to become industry leaders.
| Aug 11, 2010
SSOE, Fluor among nation's largest industrial building design firms
A ranking of the Top 75 Industrial Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Guggenheim to host live online discussion of Frank Lloyd Wright exhibition
The Solomon R. Guggenheim Museum launches the Guggenheim Forum, a new series of moderated online discussions among experts from a variety of fields that will occur in conjunction with major museum exhibitions.
| Aug 11, 2010
Best AEC Firms of 2011/12
Later this year, we will launch Best AEC Firms 2012. We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. Keep an eye on this page for entry information. +
| Aug 11, 2010
Report: Building codes and regulations impede progress toward uber-green buildings
The enthusiasm for super green Living Buildings continues unabated, but a key stumbling block to the growth of this highest level of green building performance is an existing set of codes and regulations. A new report by the Cascadia Region Green Building Council entitled "Code, Regulatory and Systemic Barriers Affecting Living Building Projects" presents a case for fundamental reassessment of building codes.
| Aug 11, 2010
Call for entries: Building enclosure design awards
The Boston Society of Architects and the Boston chapter of the Building Enclosure Council (BEC-Boston) have announced a High Performance Building award that will assess building enclosure innovation through the demonstrated design, construction, and operation of the building enclosure.
| Aug 11, 2010
Portland Cement Association offers blast resistant design guide for reinforced concrete structures
Developed for designers and engineers, "Blast Resistant Design Guide for Reinforced Concrete Structures" provides a practical treatment of the design of cast-in-place reinforced concrete structures to resist the effects of blast loads. It explains the principles of blast-resistant design, and how to determine the kind and degree of resistance a structure needs as well as how to specify the required materials and details.
