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
Architects | Sep 30, 2016
Ugly soviet parking garage takes on appearance of a cascading waterfall
Architect Ignas Lukaskas worked in conjunction with Vieta and the Vilnius Street Art festival to transform the building.
Architects | Sep 30, 2016
HOK partners with Delos to accredit its designers as wellness professionals
They are also working on the first WELL-certified city district, in Tampa, Fla.
Architects | Sep 29, 2016
Join Adrian Smith + Gordon Gill Architecture’s partners Adrian Smith, Gordon Gill, and Robert Forest for “AS+GG At Ten”
The event is a presentation of their work spanning the past 10 years.
Architects | Sep 29, 2016
Design culture in Dubai draws increased international attention
Innovation and sustainability drive an increasingly global design culture in Dubai.
Architects | Sep 29, 2016
Space architecture is making the leap from science fiction to reality
3D printed domes and inflatable living spaces are just some of the ideas for how to create habitable spaces on Martian planets.
Reconstruction & Renovation | Sep 28, 2016
Architecture conservation efforts begin at Salk Institute of Biological Studies
Getty-led research and funding leads to important site repairs and long-term conservation management planning.
| Sep 26, 2016
RELIGIOUS FACILITY GIANTS: A ranking of the nation’s top religious sector design and construction firms
Gensler, Leo A Daly, Brasfield & Gorrie, Layton Construction, and AECOM top Building Design+Construction’s annual ranking of the nation’s largest religious facility AEC firms, as reported in the 2016 Giants 300 Report.
Architects | Sep 26, 2016
Explore the world through architectural adventures
A new travel program offers design enthusiast travelers 10 global destinations.
Architects | Sep 21, 2016
DLR Group broadens its practice range and market penetration with addition of Westlake Reed Leskosky
The merger, say company officials, creates “a global design leader” in a consolidating industry.
Architects | Sep 21, 2016
Design for the transition from thinking to creating
While heads-down work continues, the changing nature of learning and work has resulted in a shift toward frequent and spontaneous exchanges.