JELD-WEN’s Secondary Equity Offering
August 16, 2021
Cleary Gottlieb represented J.P. Morgan Securities LLC, as underwriter, in a secondary public offering of Onex Corporation’s (Onex) entire remaining stake in JELD-WEN Holding Inc. (JELD-WEN).
Affiliates of Onex holding 14.88 million shares of JELD-WEN common stock acted as the selling shareholders.
The offering priced on August 16, 2021, and is expected to close on August 18, 2021. All of the shares of common stock offered were sold by the selling shareholders. As part of the transaction, JELD-WEN agreed to repurchase approximately $200 million of the 14.88 million shares of common stock from the underwriter. 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.