Cleary Gottlieb represented J.P. Morgan Securities LLC, as underwriter, in a $288 million secondary public offering of 10 million shares of common stock of JELD-WEN Holding Inc. (JELD-WEN), sold by affiliates of Onex Corporation.
The offering priced on May 10, 2021, and is expected to close on May 13, 2021. All of the shares of common stock offered were sold by the selling shareholders. As part of this transaction, JELD-WEN agreed to repurchase 1 million of the 10 million shares of common stock from the underwriter for approximately $29 million.
JELD-WEN did not sell any shares and will not receive any proceeds from the offering.
JELD-WEN, founded in 1960, is one of the world’s largest door and window manufacturers, operating manufacturing facilities in 19 countries located primarily in North America, Europe, and Australia. Headquartered in Charlotte, North Carolina., JELD-WEN 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 non-residential buildings. JELD-WEN markets its products globally under the JELD-WEN brand, along with several market-leading regional brands in Europe and Australia.