JELD-WEN Holding, Inc. (NYSE:JELD) has signed a definitive agreement to acquire the Domoferm Group of companies (“Domoferm”) from holding company Domoferm International GmbH. Domoferm is a leading European provider of steel doors, steel door frames, and fire doors for commercial and residential markets. Domoferm is based in Gänserndorf, Austria, with over 1,000 employees at four manufacturing sites in Austria, Germany, and the Czech Republic. With a history dating to 1960, Domoferm has developed a long track record of delivering high-quality products and innovative designs.
“Domoferm’s capabilities in steel frames and doors significantly expand our European product range, including certified door systems,” said Mark Beck, president and chief executive officer. “We expect to deliver cost synergies through implementation of our JEM productivity initiatives. We are thrilled to welcome the Domoferm team to JELD-WEN.”
JELD-WEN expects the transaction to close in mid to late first quarter of 2018, subject to customary closing conditions. Terms of the acquisition were not disclosed.
Domoferm International GmbH was privately held by Austro Holding GmbH and Grosso Holding GmbH.
JELD-WEN expects the acquisition to add approximately €110 million in annualized revenue. Additionally, 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.
October 11th, 2017