Jeld-Wen

Last updated

JELD-WEN Windows and Doors
Company type Public
NYSE:  JELD
Russell 2000 Component
IndustryBuilding Products
Founded1960
Headquarters Charlotte, North Carolina
Key people
Bill Christensen, CEO
ProductsExterior & Interior Doors, Wall Systems, Wood, Vinyl & Aluminum Windows, Shower Enclosures, Closet Systems, Moldings & Trim Board, Lumber and Glass, Staircases, Hardware and Locks, Cabinets, Molded Door Skins
BrandsAuraLast, MiraTEC, Extira, LaCANTINA, Karona, ImpactGuard, Aurora, IWP, Stegbar, Regency, William Russel Doors, Airlite, Trend, The Perfect Fit, Aneeta, Breezway, Corinthian, Swedoor, Dooria, DANA, A&L and Alupan
RevenueDecrease2.svg $4.29 billion (2019)
Increase2.svg $4.35 billion (2018) [1]
US$ 357.5 million (2016) US$ 90.9 million (2015)
Number of employees
23,300 [2]  (2020)
Website www.jeld-wen.com
Jeld-Wen in Kuopio, Finland Jeld-Wen Kuopiossa.jpg
Jeld-Wen in Kuopio, Finland

JELD-WEN is an American company with its headquarters in Charlotte, North Carolina. The company operates more than 120 manufacturing facilities in 19 countries. [3] JELD-WEN designs, produces and distributes interior and exterior doors, wood, vinyl and aluminum windows, wall systems, shower enclosures, closet systems and other components used in the new construction, as well as repair and remodel of residential homes and non-residential buildings. [3]

Contents

History

Jeld-Wen predecessor company Morgan Manufacturing, Oskosh, Wisconsin. The Morgan Manufacturing plant was shut down in 2009. Morgan Company, Oshkosh, Wisconsin, manufacturers of quality woodwork since 1855.jpg
Jeld-Wen predecessor company Morgan Manufacturing, Oskosh, Wisconsin. The Morgan Manufacturing plant was shut down in 2009.

JELD-WEN was founded in 1960 by Richard "Dick" Wendt when he, together with four business partners, bought a millwork plant in Klamath Falls, Oregon. [4] The company first established operations to support their millwork business and later added other materials to its offering including fiber, vinyl, aluminum and steel. [5]

During the 1970s and 1980s, JELD-WEN grew through vertical integration and acquisition. By 1989, JELD-WEN was ranked seventh among privately held companies in Oregon with revenues of more than $350 million. [6]

Throughout the 1990s, JELD-WEN continued diversification efforts, moving into additional areas of service and expanding to new countries and continents. In 1996, Forbes ranked JELD-WEN at 225 of the nation's top 500 privately owned companies. In 1997, it was ranked 119 and revenues were estimated at $1.39 billion. [7]

By the early 2000s, JELD-WEN was operating throughout the United States, Canada, Mexico, Chile, Europe, Australia, and Asia. JELD-WEN also diversified in to the home center business and began selling through big-box retailers. [8]

JELD-WEN was recapitalized by Onex Corporation in 2011 following the housing market downturn. [9] JELD-WEN went public through an IPO on the New York Stock Exchange on January 27, 2017. [10] The company completed a secondary offering in May 2017. [11]

In 2016, door manufacturer Steves & Sons sued JELD-WEN on antitrust grounds for its 2012 acquisition of rival doorskin manufacturer Craftmaster International (CMI). In 2021 the Fourth Circuit affirmed the trial judge's remedy that JELD-WEN must sell CMI's Towanda factory, which was the first time that a private lawsuit led to an order to divest. [12] In 2023, Towanda sold the plant to a subsidiary of private equity company Platinum Equity Advisers. [13]

Recent Acquisitions

From 2015 to 2017, the company completed nine acquisitions, including DOORIA, Aneeta, Karona, LaCantina, Trend, Breezway, [4] Mattiovi Oy, [3] Milliken Millworks, [14] and Kolder Group. [15]

JELD-WEN Brands

JELD-WEN brands include JELD-WEN, AuraLast, MiraTEC, Extira, LaCANTINA, Karona, ImpactGuard, Aurora, IWP, Stegbar, Regency, William Russel Doors, Airlite, Trend, The Perfect Fit, Aneeta, Breezway, Corinthian, Swedoor, Dooria, DANA, A&L [16] and Alupan. [4] [17]

See also

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References

  1. ↑ "JELD | JELD-WEN Holding Inc. Annual Income Statement". October 7, 2023.
  2. ↑ "JELD-WEN Holding". Fortune. Archived from the original on April 24, 2019. Retrieved February 3, 2019.
  3. 1 2 3 "JELD-WEN Holding, Inc. Announces Acquisition of Mattiovi Oy". Jeld-Wen. June 30, 2017. Archived from the original on September 21, 2023.
  4. 1 2 3 "JELD-WEN HOLDING, INC. Filed This 10-K On 03/03/2017". Jeld-Wen. Archived from the original on October 12, 2017. Retrieved October 12, 2017.
  5. ↑ Rodengen 2010, p. 11.
  6. ↑ Rodengen 2010, pp. 23 & 31
  7. ↑ Rodengen 2010, p. 43
  8. ↑ Rodengen 2010, p. 53
  9. ↑ Jordan, Pav (May 4, 2011). "Onex buys into doormaker JELD-WEN for $675 million. Reuters Retrieved [10/12/2017]". Reuters.
  10. ↑ Jordan, Pav (May 4, 2011). "JELD-WEN share price jumps 13.6 percent in IPO debut. Winston-Salem Journal. Retrieved [10/12/2017]". Reuters.
  11. ↑ "JELD-WEN Holding, Inc. Announces Launch of Secondary Offering of Common Stock Retrieved [10/12/2017]".
  12. ↑ Santana, Steven. "Door is finally shut on San Antonio company's antitrust legal battle". MySA. Retrieved April 8, 2024.
  13. ↑ "Form 10-K" (PDF). JELD-WEN Holding, inc. February 20, 2024. Retrieved April 7, 2024.
  14. ↑ "JELD-WEN Holding, Inc. Announces Acquisition of Milliken Millwork, Inc". JELD-WEN. August 25, 2017. Archived from the original on December 2, 2017.
  15. ↑ "JELD-WEN Holding, Inc. Announces Acquisition of the Kolder Group". JELD-WEN. August 31, 2017. Archived from the original on September 7, 2017.
  16. ↑ "A&L Windows joins the iconic JELD-WEN Group". A&L. Archived from the original on September 21, 2020. Retrieved September 17, 2020.
  17. ↑ "Windows For Me". windowsforme.com.
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